Domain Investor Prakhar Bindal Featured: How To Make Millions Trading Domains”

Thehindubusinessline.com, just published a story entitled “How To Make Millions Trading Domains.

The story features Domain Investor Prakhar Bindal which must have come out of the recent domain conferences held in India.

“”It is not just bullion and shares that can be traded to make millions. Now, trading Internet domain names is becoming big business.

“Take the example of Prakhar Bindal, who founded a company called Axsiom to act as an exchange for trading domain names. \\

“Bindal bought a domain name called legalapp.com for $69 and then sold it for $100,000.

He bought obituaries.in for only $2 and sold it for $1,200.

Similarly, hashish.com fetched $65,000 after he bought it for just $8,000.

“Trading domain names is already big in the US and Europe. In India not many people are aware of the potential. We are organising seminars and awareness campaigns to encourage youngsters to invest,” said Bindal, who is now looking to start a new service where even retail users can start buying and selling domain names.

“Bindal is also in discussions with the Bombay Stock Exchange to create a proper exchange for such domain names.

“It might take up to two years, but we are optimistic (that) it will happen. It is not only a question of the BSE, but rounds of clearances by the Government, like SEBI approval and many other regulatory reasons,” he said.

Bindal expects his revenue to jump to $10 million and $15 million in next two years. The optimism rises from the recent decision by the Internet Corporation for Assigned Names and Numbers (ICANN) to open up domain name registration beyond the .org and .com. to allow generic names like .hotel and .shiksha.”