Coreile

Chinese Domain Market Newsletter

Is there anything in life that brings back your old memory? Whenever I see a goldfish, I always think of my childhood friend Poon Jai. When I was an elementary student, I was a loner. I did things myself but exceled in academic study. Somehow a student from the same class called Poon Jai became a keen fan of me. He would follow me all day long and talk to me and I was very annoyed. I saw him as that long poop following a goldfish and wanted to get rid of him. I was sick of him until my family moved away from the village to the city. Over the years, my personality has changed dramatically and at college I was even called Mr. Party Man. However, Poon Jai and the image of the goldfish poop got stuck in my memory. Here's the post.

May 23, 2016 (Mon)

Companies find it hard to buy domain names


In a speech by Aliyun domain executive Peng WANG as reported by Sohu.com on May 2, Wang showed results of a survey conducted on a large number of Chinese companies.

According to the survey, there are three major obstacles stopping Chinese companies from buying a desired domain name.

1. They don't know how to locate a domain name that they want to buy. (47% of respondents)
2. They don't understand the transaction process. (25%)
3. They worry about whether the domain name will actually be transferred to them. (17%)

Locating a domain owner is not easy. Even if they manage to locate the owner, the owner may not respond for a long time. If they try to use a broker, they now face a new issue of how to determine which one is a good broker, because quality of domain brokers varies very much.

Many companies have no experience buying domain names, so they have no idea about prices. Seller may inflate the price depending on the buyer. Therefore, many companies worry they may be ripped off.

Sometimes, sellers are not flexible but demand very quick payment. If sellers are individual investors, this creates additional accounting problem as companies cannot obtain invoices from the sellers.

Finally, even if a price is agreed upon and payment terms decided, companies still worry whether they will get the domain name after they pay.

In view of these issues, Wang said Aliyun is going to make buying and selling domain names very simple and easy -- just like how millions of consumers have been buying and selling on Taobao (another company owned by Alibaba).

I agree that buying a domain name should be as easy as buying a jacket from a marketplace. No technical skills should be required. Domain investment and website development should be separated when you buy a domain name. For investors, they should be able to select a domain name, go to the checkout page, pay the money, and the domain name should be set up already. All functions useful for selling domain names -- such as landing page and email forwarding -- should be easy to use. Then, I can see domain investment going mainstream for the masses.