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

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

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

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

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