Thursday, 21 June 2018

Infibeam’s domain registry gets over 40,000 domain name in a single day

HMEDABAD: Infibeam, India’s first listed ecommerce company, registered over 40,000 domain names in a single day. The company, which operates a unique business model with a mix of Infibeam shopping destination and Infibeam Web Services and has country’s first generic top level domain (GTLD) Registry, claims to have created a record of registering over 40,000 domain names in a single day, as per an official statement. 

The total number of active registrations globally crossed 1.15 lakh ranking the registry at top position in new GTLD club within India and in the top 50 new GTLD club globally. 

Infibeam’s registry is one of the Registry operational in India after bagging necessary clearances and license from The Internet Corporation for Assigned Names and Numbers (ICANN). 

In order to manage and provision domains, the registry has partnered with several leading registrars and providers of web presence solutions for domain registries, registrars, resellers and web hosts in the global market. The company plans to provide web services solutions to merchants globally and domain is the entry point for most merchants. 

 The Registry business places Infibeam in a strong position, designed as an affordable alternative to .com and tailor-made for large scale usage in existing and emerging markets as a digital transformation tool for existing businesses to find online markets and new business ideas to be realized.

The company has entered into Registry Registrar Agreement (RRA’s) with leading global domain Registrars for making available .OOO to the customers worldwide. All the Registrar partners are ICANN accredited, many with over 15 years of experience in distribution and management of domain names and numbers. 

Recently, Infibeam acquired Snapdeal’s wholly owned subsidiary, Unicommerce, a cloud-based inventory management company for Rs 120 crore. Last year, it has acquired CC Avenue, a digital payment gateway and had its own digital logistic solution – ShipDroid. 

While Infibeam does not compare with Flipkart or Amazon India in scale, it is one of the few profitable ecommerce company currently in India. Its latest third quarter (Q3) FY2018 results reported a 108% YoY growth in revenue to Rs 213.5 crore ($33.4 million). Its Q3 profit after tax (PAT) also increased 146% YoY to Rs 30.8 crore ($4.8 million). Similarly, its Q1FY18 and Q2FY18 net profit stood at Rs 19.7 crore and Rs 21.6 crore, rise of 45% and 9% respectively.

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