According to market research firm eMarketer, e-commerce sales will go beyond $3.5 trillion over the next five years, demonstrating the monumental money making potential the Internet can afford. But while today’s online world enables businesses to sell their products and services on a global scale, some entrepreneurs have made money off the web itself.
Recognising the future power and potential of the Internet, a number of visionary people registered lots of .com domain names in the early nineties. Therefore, when multinational corporations wanted to claim the company’s name or another unique URL as their web address, they would have to pay the owner of the domain thousands, if not millions for the privilege. [Read more…]