After six rounds of international auction bidding, the Internet domain "wallstreet.com" sold for a whopping $1,030,000 to Simpson Bay Limited of St. Kitts, an Internet marketing company that lets stock traders play the market.
"The bidding got very aggressive in the last two rounds, and the last and final round was over double the previous round," Tom Milltizer, President of New Commerce Communication, the company that conducted the bidding.
Aces research, the Internet provider that originally registered the www.wallstreet.com address in 1994, has let the address remain inactive for some time. Nevertheless, the site receives 4,000 to 17,000 hits per day. The company decided to sell the address when an unnamed pornography website owner offered $250,000 for the site.
Simpson Bay uses technology by Starnet Communications to change the way Internet traders around the world play the stock markets. By using the traditional sports wagering format, even small players on Wall Street can now play the lucrative futures and options markets; investments generally only available to highly capitalized investors. Under the software lease arrangement, Starnet will take a percentage of all revenue derived from wallstreet.com, which Simpson Bay expects to be significant.
Forbes Magazine was quoted as calling "Starnet the Microsoft of the Internet gambling industry." For more information visit www.wallstreet.com.
