Two-letter web address sells for $3.6 million (£2.1 million)
It’s barely news now when a social media website sells for a billion dollars, but news that a web address has changed hands for $3.6 million (£2.1 million) is quite extraordinary.
In buying Mi.com, Xiaomi, a Chinese smartphone firm, has topped the $3.1 million (£1.8 million) paid for Whisky.com earlier this year and did so to help it break into Western markets where they believe customers may struggle to pronounce or spell the full name.
The firm – who state that their new domain name stands for “mobile Internet” and “mission impossible” – did not break the world record paid for a web domain however. Sex.com sold for $13 million (£7.7 million) and VacationRentals.com achieved a remarkable $35 million (£20 million) in 2007.
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