The “.Travel” Travesty
On December 21st the .TRAVEL top level domain was opened to the global public. The price of each registration starts at $99 per domain name per year.
Tralliance Corporation entered an agreement with ICANN to manage the .TRAVEL TLD in May of 2005. Tralliance Corporation is a wholly-owned subsidiary of theglobe.com, Inc.
According to this report filed to the Securities & Exchange Commission, Labigroup (Who is owned by Michael Egan, CEO of .Travel) has agreed with theglobe.com, Inc. to buy 25,000 .TRAVEL domain names within the period of one year.
On December 20, 2007, the Company, through its subsidiary, Tralliance Corporation (“Tralliance”), entered into a Bulk Registration Co-Marketing Agreement (the “Agreement”) with Labigroup, under Tralliance’s Bulk Purchasing Program available to entities committing to a minimum purchase of 25,000 “.travel” domain names within one-year. Labigroup is controlled by the Company’s Chairman and Chief Executive Officer, Michael Egan and our remaining directors own a minority interest in Labigroup. Under the Agreement, Labigroup committed to purchase a predetermined minimum number of “.travel” domain names on a bulk basis from an accredited “.travel” registrar of its own choosing and to establish a predetermined minimum number of related “.travel” websites. As consideration for the “.travel” domain names to be purchased under the Agreement, Labigroup agreed to pay certain fixed fees and make other payments, including but not limited to, an ongoing royalty calculated as a % share of its Net Revenue, as defined in the Agreement, to Tralliance. The Agreement has an initial term which expires September 30, 2010, after which it may be renewed for successive periods of two and three years, respectively. Labigroup has paid Tralliance the sum of $262,500 under the Agreement to date.
This seems like an excellent marketing campaign, which should drum up interest and exposure of the new .TRAVEL TLD. However, there has been some controversy and speculation of insider trading.
As reported in this NamePros discussion, a registrant going by the name of “Labitrav” (assumed to be Labigroup’s Michael Egan) claimed the domain Tours.travel on December 20th, 1 day before the public registration launch. (See: WHOIS record for “Tours.travel”)
Updates will be posted as this story unfolds.
Popularity: 4% [?]
January 18th, 2008 at 5:16 am
$99 for a year is not cheap. But I guess it is OK for companies.
January 18th, 2008 at 9:36 am
[…] Controversia en los dominios .travel […]
January 19th, 2008 at 6:26 pm
Not cheap for sure
January 20th, 2008 at 4:57 am
Thats way to expensive. If anything they have formed a monopoly. I think eventually the $99 cost will be reduced, because a lot of people simply won’t put up with paying that much.
Regards Andrew
January 22nd, 2008 at 9:10 am
After the news came about tours.travel,they have released that domain.Now its available for registration
there are many other domains registered on 19th and 20th december
kuwaitcity.travel
lahore.travel
There are thousands of domains like this
January 28th, 2008 at 4:59 pm
I think the whole thing is kind of bogus. I’m a sucker with three. Thinking about letting them drop.
May 2nd, 2008 at 12:29 am
Too expensive. But may be ideal for travel companies.
May 4th, 2008 at 4:53 pm
Yes. Too expensive.
June 12th, 2008 at 3:49 am
That would be affordable for travel companies. Yet the offer provides extra convenience to its specific users.
June 14th, 2008 at 11:51 am
It is also expensive for travel companies.
June 14th, 2008 at 1:30 pm
Travel companies may easily afford this money. They steel from hotels.