Record amount paid for a co.uk domain name

Recycle.co.uk sold for £150,000

14 November 2007 16:33 GMT / By Amy-Mae Elliott

ASAP Ventures has bought Recycle.co.uk for £150,000 - the highest amount ever paid for a .co.uk internet domain name.

The investment is the latest in a series of purchases for the group, which has also recently bought Fly.co.uk for £87,500.

Commenting on the acquisition Gareth Robinson, marketing director of ASAP Ventures, said: "The purchase of
Recycle.co.uk underlines our commitment to growing the business and expanding into new markets".

"The success we have had with Carrentals.co.uk has been phenomenal, and we have the skills and technology to reflect this elsewhere."

"The investment in Recycle.co.uk may be the highest yet, but it is well founded. The online market is changing rapidly and domain names are key. In the US the market has already exploded, and while the UK operates under different regulations, the potential is vast."

The £150,000 investment in Recycle.co.uk is the highest published figure paid for a .co.uk domain name, breaking the last recorded value by £40,000, which was set by Sainsburys when it purchased taste.co.uk for £110,000 in 1997.