Amazon is one of the biggest online retailers in the world and it has forked out some serious money just for exclusive access to the .Buy domain name based website. It was up against Google in an auction which was also interested in purchasing the .Buy top-level domain but ultimately bid $4.6 million to get what it wanted.
Google wasn’t the only one trying to battle Amazon. According to reports there were two more companies that were after the .Buy TLD as well but decided not to trump Amazon’s bid of $4.6 million.
Google didn’t win much at the auction. It was also trying to purchase the .VIP top-level domain but remained unsuccessful in that as well. The .Tech TLD was sold for a whopping $6,760,000 which some believe might be the highest deal ever reached for a top-level domain.
Amazon has not yet revealed what it intends on doing with .Buy. Perhaps it would make some use of it in a future service as the domain does sit well with Amazon’s core service which is to get people to buy stuff through its portals.
International internet regulator ICANN announced back in 2011 that TLDs would be expanded beyond the usual .com, .org and .gov domains which is why so much is being spent on top-level domains. Some major companies which see them as potential revenue sources are putting down big money just to stay ahead of the pack.