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URL sold for $150,000
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June 5, 1997: 10:38 a.m. ET
Texas company pays premium for Internet domain name "business.com"
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NEW YORK (CNNfn) - How much is the domain name "business.com" worth? A Texas company apparently thinks $150,000.
Idnames.com, a business which specializes in Internet property intellectual rights, negotiated the deal and said the price is the highest ever paid for an address, the New York Times reported Thursday.
Business Systems International of London, a banking software company, sold the business.com domain name after paying nothing for it four years ago.
The buyer will not use the address until its site is put up on the Web in about four months.
Domain names have begun to be highly coveted by companies because the ones most easy to remember can help bring potential customers to a site.
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