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Record cash paid as recycle.co.uk domain name sells for £150,000

A record price of £150,000 has been paid for domain name recycle.co.uk by venture capital company, ASAP Ventures, in a private deal. With the name, the buyer plans to launch a UK recycling information service for consumers. The cost breaks the record set in 1997, when £110,000 was paid for taste.co.uk by J Sainsbury. This sale is an example of how highly environmentally-friendly businesses are valued. ASAP Ventures marketing director Gareth Robinson said: The fact that this is one of the biggest purchases of a domain to take place in Europe reflects the importance we place on this issue and our commitment tothe site'son-going development. Recycling and protecting the environment concerns everyone and the whole team here is focused on building the site to create a fantastic online experience.We have some big plans for the domain, and are determined that in the current climate we put it to good use. Domain name auctioneers Sedo UK operations director Nora Nanayakkara said: "We are seeing a growing interest in the purchase of co.uk domain names in the secondary market. Over six million co.uk names are already registered and there is a shortage of available quality names. This is driving the sale of high value generic names, such as recycle.co.uk and mobile.co.uk." Sedo Marketing Associate BiancaDe Bono told MRW that the company had previously sold similar names to recycling.co.uk which included: Recycling.com for $300,000 in December 2005 Recycling.in for 400€ in September 2005 Recykling.com for 4000 in January 2006 Recyclage.org for 1990€ in February 2006

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