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.
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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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