Directi through its Radix subsidiary has already allocated $30 Million for its 31 new gTLD applications, according to this story they are seeking additional funds to cover the cost of anticipated auctions for some of the new gTLD’s.
Many of Directi new gTLD applications have heavy competition including .Web, .Shop, .News., Music, .Blog, .App just to name a few, where other applicants and potential bidders in an auction include Google, Amazon and Donuts, Minds + Machines and Famous Four.
Bhavin Turakhia was quoted in the story:
“There is going to be an auction for those top-level domains sometime next year, and while we have our own reserves to participate in the auction, we may add to our reserves by raising additional funds. We haven’t decided on the exact amount but it will lie in the $50-100 million range.”
We have heard predictions that some strings may hit $50 Million or more at auction so $100 Million may not even be enough to win a bunch of these.
With all this money from new gTLD auctions going to ICANN applicants should really consider using a private auction model as I outlined in a post on CircleID.com a couple of months ago.