The Internet Society and Public Interest Registry (PIR) announced the sale of the org. registry to an investment firm Ethos Capital.
According to the announcement of The Internet Society and Public Interest Registry (PIR) about the agreement with Ethos Capital, the investment firm Ethos Capital will acquire PIR and all of its assets from the Internet Society. It is expected to close the transaction during the first quarter of next year.
Sale for sustainable funding
Andrew Sullivan, President and Chief Executive Officer of the Internet Society, the organization that established Public Interest Registry, make a statement about the topic:
“This transaction will provide the Internet Society with an endowment of sustainable funding and the resources to advance our mission on a broader scale as we continue our work to make the Internet more open, accessible and secure – for everyone. It also aligns Public Interest Registry with Ethos Capital, a strong strategic partner that understands the intricacies of the domain industry and has the expertise, experience and shared values to further advance the goals of .ORG into the future.”
This decision shocked the internet industry because The Internet Society is a non-profit organization and the .org registry has always been operated on a non-profit basis. With this sale, PIR will discard the non-profit status it has held since its inception.
ICANN moved to a free-market approach
Moreover, ICANN, the organization that oversees the domain-name system and awards the contracts to run internet registries, move toward a free-market approach to internet addresses. ICANN lift price caps on .org domains for the next 10 years.
There are over 10 million web sites with the suffix “org“. Org symbolizes non-profit organizations in the internet world. In conclusion, these two developments allow unlimited price increases on the 10 million .org domain names.
Source: The Register
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