VANCOUVER, Jan. 4, 2019 /CNW/ - NameSilo Technologies Corp. (CSE: URL) (PINKSHEETS: NTCEF) (the "Company") is pleased to report that the Company's subsidiary NameSilo LLC ("NameSilo") has grown its domain names under management by approximately 106% in 2018 having added approximately 1.27 million of net new domains. Total bookings were US$20.1 million* in 2018. As of January 3, 2019, NameSilo has over 2.49 million domains under management.
The fourth quarter of 2018 registered a record number of new domain additions (net). Domains under management increased by 20% or approximately 420,000 relative to the prior quarter. Total bookings were US$5.4 million* in the fourth quarter. December 2018 also set a new record for monthly net new domain additions, adding over 186,000 domains. This represents an increase in total domains under management of approximately 8% in the month of December.
Since acquiring NameSilo on August 7, 2018, we have successfully increased domains under management by 35% or approximately 640,000 to around 2.5 million. NameSilo is now one of the top 5 fastest growing domain registrars in the world and the largest registrar of the .ICU new Top Level Domain (nTLD). NameSilo is also implementing new value-added digital service products that would further increase domain growth, customer retention, as well as increasing core revenues and profit margins.
"When we took over NameSilo, the company already had an impressive rate of growth. We managed to accelerate that growth rate from 86% per year to now 106% as we continue to offer high quality products & services and timely customer support. We look forward to launching some exciting new services in 2019 to further accelerate growth rates." commented Kristaps Ronka, chief executive officer of NameSilo LLC.
About NameSilo Technologies Corp. and NameSilo LLC
NameSilo Technologies Corp. invests its capital in companies and opportunities which management believes are undervalued and have potential for significant appreciation. The company makes investments in both public and private markets and focuses on opportunities in a wide variety of industries excluding the resource and resource service sectors. NameSilo does not invest on behalf of any third party and it does not offer investment advice.
NameSilo LLC is a low-cost provider of domain name registration and management services. As an accredited ICANN registrar, NameSilo is one of the fastest growing domain registrars in the world with over 2.5 million active domains under management, and over 240,000 customers from approximately 160 countries.
Disclaimer for Forward-Looking Information
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding potential future investments by the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and set forth in detail in the Company's CSE Listing Statement dated August 1, 2018. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company's actual results to differ materially from those expressed or implied by the forward-looking statements.
*Non-IFRS Financial Measure
Readers are cautioned that "total bookings" is a measure not recognized under IFRS. Total bookings includes the full amount of cash received from new domain bookings, renewals and other related services. Whereas, under IFRS, the Company records revenue from domain booking and renewal fees on a straight-line basis over the life of the contract term. However, the Company's management believes that "total bookings" provides investors with insight into management's decision making process because management uses this measure to run the business and make financial, strategic and operating decisions. Further, "total bookings" also provides useful insight into the Company's operating performance on a yearly basis. "Total bookings" does not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Readers are cautioned that "total bookings" is not an alternative to measures determined in accordance with IFRS and should not, on their own, be construed as indicators of performance, cash flow or profitability.
SOURCE NameSilo Technologies Corp.
For further information: NameSilo Technologies Corp., Paul Andreola, President, CEO and Director, (604) 644-0072, www.brisio.com; NameSilo LLC, Kristaps Ronka, CEO, email@example.com, www.namesilo.com