New Delhi, India, November 6, 2014: Radix, founded by Indian serial entrepreneur Bhavin Turakhia, with over $30 million in committed funding, has won the global perpetual rights to run the .tech Top level domain extension in an auction held by ICANN. Radix made the winning bid of $6.7 million for rights to .tech, competing with Google, Donuts, and other industry players With this victory, Radix now owns the rights to operate .tech along with 4 other extensions it owns rights to viz. .website, .space, .press and .host.
Bhavin Turakhia, CEO of Radix “We are delighted to add .tech to our TLD portfolio. This new extension will represent the ever growing community of users who truly understand the power of the internet, and appreciate the value of a powerful identity online. As a techie at heart, this is an extension that I can personally relate and connect with the most.”
A Top level domain extension is simply the part of the website address that follows the dot, for e.g. www.yourwebsite.tech. .tech is a part of the launch of new domain extensions by ICANN (an agency which manages the global supply of internet addresses) to address depleting pool of names in domain extensions like .com, .net .org and .in. Consumers found that old extensions like .com have run out of short, meaningful domain names. This called for new domain extensions like .web, .law, .press and .shop, .music etc. which aim to be contextual to the purposes that websites fulfill while also providing a fresh pool of domain names.
Radix will soon launch .tech enabling tech companies worldwide to get premium desired domain names ending in the .tech extension. Once launched, technology oriented companies, communities and individuals will have the ability to register shorter and more memorable website addresses ending with .tech.
An industry specific domain name like .tech is an important tool in this direction and is especially significant for India due to the importance of the technology sector in the country. Employing over 3.1 million software engineers, the 15000 firms in IT sector form the largest private sector employer in the country. Statistics by Evans Data Corp., say that by 2017, India will overtake USA in the number of software developers and by 2018, India is projected to have 20% of the global software developer population.
“India has an exciting budding startup culture,” added Bhavin. “With the proliferation of successful startups in India and support from the government like the ‘Make in India’ campaign, these initiatives are going to grow further. A .tech domain name can help establish strong brand credibility for these startups which often aim at an international market.” According to NASSCOM, there are already over 16,000 startups in the country.
Slated for a Q1 2015 launch, .tech domain names will be made available through all major domain name retailers world-wide. Radix has successfully launched three of its extensions – .website, .press and .host – and is in the process of launching .space.