.Cars .Car and .Auto to be sold in a No Reserve Auction – Innovative Auctions

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HONG KONG, June 9, 2020 /PRNewswire-PRWeb/ — Launched in 2015, .Cars .Car and .Auto, have been at the forefront of innovation in automotive naming and marketing .Hundreds of dealerships, startups, and large automotive technology companies have utilized these new domain endings, as anchor locations, marketing tools and to enhance their online presence.

A joint venture between XYZ Registry, the operators of the most successful new gTLD, .XYZ, and UNR Corp. the innovative registry service provider, .Cars .Car and .Auto have generated more than $11 million in sales via the operation of these successful new automotive name extensions. The company has built a predictable revenue stream of $1.7MM per year with an average operating margin of 95%, on a modest but growing registration base, with tremendous additional profit potential.

“After a successful 5 year partnership XYZ and UNR have decided it is time to divest our mutual interest in the .Cars .Car and .Auto namespaces. Collectively we have put a lot of hard work into this investment and we have built a solid community of automotive customers. With strong utilization has come strong growth, and we look forward to watching these namespaces evolve as more automotive businesses expand their web presence.” said Daniel Negari, CEO of XYZ.

Examples of customers include:

  • DAG.cars – Downtown Automotive Group from Toronto, Canada
  • Drop.car- Technology company in NYC
  • Watermark.auto – Watermark Auto Group based in Marion, IL
  • Charge.cars – Technology company in London
  • Arizona.cars – Arizona Car Sales based in Mesa, AZ

The auction will start on July 13th and will end the next day with a certain sale, since there will be no reserve price. It will be conducted independently by Innovative Auctions, the facilitator of the private auctions held after ICANN’s first new gTLD application round. UNR and XYZ selected Innovative Auctions based on their proven track record, reputation within the domain investor community, and its known and trusted settlement abilities.

The package of assets being auctioned includes the top level domains .Cars .Car .Auto, all related intellectual property rights, brands, social media accounts, and high-value registry reserved domains, such as electric.car and rental.car.

“Our journey with the team at .XYZ has been nothing short of remarkable. UNR’s Investment has now matured and I’m so proud of this trio of products, our customers and the incredible latent value of this generational naming asset. I look forward to watching the .Car, .Cars and .Auto extensions move from the creative hands that gave them birth to the strong guiding hands which will curate their greater success in the future. These are incredible naming assets. It is unlikely they will ever be seen openly available for sale again.” said Frank Schilling, CEO of UNR.

Interested parties may contact cars@innovativeauctions.com for further information..

About Innovative Auctions
Innovative Auctions is an independent boutique auction consulting and auction facilitation company that has held auctions in industries ranging from telecommunications to aquaculture, with over $10 billion in revenue worldwide during the last 5 years. In the domain industry, Innovative Auctions is best known as the facilitator of the Applicant Auction, which resolved contention between applicants for well over 100 gTLDs after ICANN’s new gTLD program originally launched in 2011.

About XYZ
XYZ is a next-generation technology company giving all people fresh domain name options, including the most popular new domain in the world, .xyz.
The registry also operates .College, .Rent, .Security, .Protection, .Theatre,
.Storage, .Baby, and .Monster as well as .Cars, .Car, and .Auto through a joint venture. Learn more about XYZ on Fox Business News with Maria Bartiromo and Wired, or at https://www.gen.xyz.

About UNR
UNR is a technology and infrastructure platform for names and naming. The owner operators of more than 30 top level domain names, and the creators of Registry-in-a-box, UNR brings names to life for its customers and offers innovative solutions for registry level blocking and other registry infrastructure services. UNR is privately held and its shareholders participate in the company’s growth and success.

 

SOURCE Innovative Auctions

A Global Asset Management Seoul Korea Magazine

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