Fusu Launches New Features at Domainer Meeting 2008: Co-Buying and Auctions

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Fusu brings group buying and free auctions to the domain industry.

Fusu, the world's first Domain Stock Exchange, launches two important additions today at the Domainer Meeting conference in Paris, France.

Fusu Co-Buying is a world premiere, addressing a specific problems of domain investors. Often, the price of generic premium domains is in the hundreds of thousands of Dollars - a price point sometimes not attainable by a single investor. However, what if the investor could find other like-minded people to share the purchase price? Fusu now offers a set of tools to structure this process of Co-Buying, and the management of the domain with a group of co-owners.

How does it work? Once a group of domainers comes together to buy a domain, a Co-Buying Auction is created. There, they can split the costs. For example, two domainers can vouch to pay $250,000 each for a domain that is worth $500,000. After the Co-Buying, the domain is effectively purchased and transferred to Fusu's escrow account. The domain co-owners get their own forum and voting tools to discuss the name and decide about its use. If the domain is sold through Fusu with the approval of the majority owners, the co-owners are automatically paid out their respective shares.

The current introduction of the Co-Buying program is just the starting point. Fusu intends for example to partner with a leading arbitration court to offer online dispute resolution among co-owners.

The second new feature launched in Paris are Fusu Auctions. Fusu has often been approached in the past to sell or auction domains directly to its user base of highly sought after domain investors. The release of Fusu Auctions makes this possible, using two auction formats:

  •     Anyone can list a domain for a Standard Auction, free of charge. Fusu does not verify domain ownership in this case, nor process payment, but provides just the auction platform.
  •     Premium Auctions are auctions where Fusu verifies the domain ownership and acts as escrow agent for the payment and transfer. The domain owner can choose whether to hold the auction as pre-paid (the bidders have to transfer funds to Fusu before they can bid) or post-paid (the winning bidder pays after the end of the auction through Fusu). In both cases, Fusu charges its signature 1% fee.

Fusu hopes that the new Auction system will add further liquidity on both ends of the market spectrum: On the low end, small, lower volume auctions so far were typically handled through forums. The Fusu Standard Auction is a free and easy way to hold an auction. For high end auctions, where payment and transfer security is paramount, the Fusu Premium Auction introduced for the first time in the industry pre-paid auctions, effectively eliminating the risk of bidders not following through on their wins.

About Fusu
Fusu is the world's first Domain Stock Exchange. Founded in 2007 and launched in February 2008, its mission is to bring fractional ownership through a liquid, professionally run financial Exchange to the domain industry.

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