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Trade in web names worth millions

Source : guardian.co.uk / More : Domain Market - (17 March 2008 11:09)

Neil Stanley goes to bed each night knowing he will wake up a little richer. All over the world, the clicks of computer mice are depositing a few more pounds into his account. His secret is that he was smart enough to ask: what's in a name?

Stanley is a trader in domain names, the addresses of websites which commonly follow 'www' and end with '.com' or '.co.uk'. Once a banker at Goldman Sachs, he now has a different portfolio of lucrative investments including bridalfashion.co.uk, onlinecareers.co.uk, schoolguide.co.uk, sendingflowers.co.uk and impotency.co.uk. He is one of a growing band of cyber-speculators able to make a living from buying and selling domain names at a substantial profit. No effort or expertise in building websites is required. Instead, a PC with broadband connectivity and an eye for a popular generic domain is enough to draw traffic and unlock a fortune. Recently Stanley was involved in a deal which registered a domain name for almost nothing and sold it for $40,000 a few weeks later.

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