Minds + Machines Group Limited .WORK MOST INVESTMENT SUPPORTED NEW gTLD IN 2018
August 15 2018 - 1:00AM
RNS Non-Regulatory
TIDMMMX
Minds + Machines Group Limited
15 August 2018
RNS Reach: For release on 15 August 2018 at 07:00am
Minds + Machines Group Limited
("MMX", the "Company" or "Group")
.WORK MOST INVESTMENT SUPPORTED NEW gTLD IN 2018
Twelve .WORK Start-ups Receive $168 million in Initial &
Growth Funding Year To Date
Minds + Machines Group Limited (AIM: MMX), one of the world's
leading owners and operators of Internet Top-Level Domains
("gTLDs"), is pleased to announce that as at the end of July 2018
early stage businesses using the Company's .work gTLD have received
$168 million in initial or growth funding, making it the most
investment supported new gTLD for start-ups in the current year,
based on an analysis of data provided by crunchbase.com.
The data shows, that in total 288 companies in 107 new gTLD
extensions have received $1.05 billion in start-up funding (defined
as Angel, Seed, Debt, Crowd, Grant, Private, Venture, Series
A/B/C*). This is a significant increase from the circa $450 million
of like-for-like funding received by early stage businesses using
new gTLD extensions during the previous two years.
Originally launched in 2015, MMX has seen registrations in .work
nearly quadruple over the last 12 months to circa 420,000. Sites
running on .work include Amazon.work which is used as an employee
portal.
Toby Hall, CEO of MMX, commented:
"We are witnessing a major shift in sentiment amongst new-start
enterprises and underlying investors towards new gTLD extensions.
We expect this trend to continue and believe it is additionally
benefiting from the public offerings of enterprises that have
adopted alternative endings, $9 billion having been raised by such
companies YTD**. The support by the investment community of
businesses using new gTLD endings augurs well for our entire
portfolio, not just .work."
Six of the twelve .work businesses that have raised $168 million
this year are co-location workspace companies and three are
recruitment platforms. Their office locations include New York,
London, Tel Aviv, Boston, China, Malaysia, Hong Kong, Singapore,
Melbourne and Sydney, illustrating the international appeal of the
.work address. These businesses include Hyr.work, Covet.work,
Zinc.work, Ambi.work, Mixer.work, Nash.work, Commonground.work and
Campfire.work.
-ends-
* excludes both ICO's and post IPO's
** As of 30 July 2018, companies using new gTLD addresses had
raised $5.1billion post IPOs, and $4.4billion through ICO's
For further information: www.mmx.com:
Minds + Machines Group Limited
Toby Hall, CEO Tel: +44 (0) 7713 341072
Michael Salazar, COO/CFO Tel: +1 (310) 740 7499
finnCap Ltd Tel: +44 (0)20 7220 0500
Corporate finance - Stuart Andrews/Carl
Holmes/Simon Hicks
Corporate broking - Tim Redfern/ Richard
Chambers
Belvedere Communications Limited Tel: +44 (0) 20 3567
0515
John West
Llew Angus
About MMX
Minds + Machines Group Limited (LSE: MMX) is the owner and
operator of a world class portfolio of 32 top-level domain assets
(gTLDs). As a sales and marketing-led registry business, we are
focused on commercializing our portfolio in partnership with our
expanding global network of distribution partners.
The MMX portfolio is currently focused around geographic domains
(e.g. .london, .boston, .miami, .bayern), professional occupations
(e.g. .law, .abogado, and .dds), consumer interests (e.g. .fashion,
.wedding, .vip), lifestyle (e.g. .fit, .surf, .yoga), outdoor
activities (e.g..fishing, .garden, .horse) and generic names such
as .work and .casa. The Company also recently acquired the ICM
portfolio of four high value, niche TLDs. As a business, we work
through our expanding international network of registrars and
distribution partners to bring the benefits of affinity based
domain addresses and identifiers to B2B and consumer audiences.
This information is provided by RNS, the news service of the
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contact rns@lseg.com or visit www.rns.com.
END
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