Minds + Machines (LON:MMX), the top-level domains owner and operator, “saw revenue surge from September when ten of its newly acquired Internet names became generally available.
Sales totaled £2.9mln in the six months to December, with £2.2mln generated in the last four months.
In that time, 107,000 domain names were registered for Minds + Machines’ portfolio, of which 10% were sold through its own registrar.”
“In total over the year to December the group earned US$36mln (£21.9mln) from the 21 private auctions where it withdrew its application and the profit on these top-level domain auctions will be not less than US$33mln (approximately £20mln).”Acquiring six top-level domains cost the group US$25.9mln (£15.8mln).
At end-December, M+M had cash of US$45.8mln (£29.5mln).
Shares were up 1.7% at 8.90p in late morning trading.
Shares have a 52 week high of 17.50P and a 52 week low of 6.8p
2 thoughts on “Minds + Machines Generates £2.29m From Operations: $36m From Losing Private gTLD Auctions & Spends $25.9M Winning”
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They made a massive profit and didn’t rely on selling domain names one by one. Smart guys! They probably have no intention of selling domains and that’s why we see no marketing from these groups.
Todd
Of course the are running some registries including .london and most recently .work so they are operating as a registry as well plus they spent $25M of $36M to get new gTLD extensions