|[December 16, 2013]
Freenom Closes $3M in Series A Funding
AMSTERDAM --(Business Wire)--
Freenom, the free domain name provider, announced today that it has
closed $3M (News - Alert) in Series A funding from a group of investors led by Kima
Ventures (KIMA), the most active angel investor in the world. Freenom
will use the funds to expand its top level domain management operations,
to expand its AnyCast cloud network and the development of commercial
initiatives combining country top level domains with local communities.
"Our current partners are very committed to the free domain name idea
and industry," said Joost (News - Alert) Zuurbier, CEO & Founder of Freenom. "We are
pleased to work with KIMA and the other members of this investment group
to accelerate our growth and to expand our technology and presence
One of KIMA's Co-founders, Xavier Niel, is a French entrepreneur and
businessman, active in the telecommunications and technology industry
and best known as founder and majority shareholder of the French
Internet service provider Iliad, trading under the Free brand. The
management of Freenom recognizes his experience and know-how in freemium
business models as a valuable asset to the company.
Freenom is managing the registry operations for the TK (Tokelau), GA
(Gabon), CF (Central African Republic) and ML (Mali) top level domains.
With more than 20 million active domain names, Freenom manages the
largest domain name portfolio after .COM. Domains are provided for free
to individuals and businesses worldwide. These domains work as any other
paid domain. Websites with a free domain have no advertisements and can
be renewed at no cost
Free domain name registrants are found everywhere, especially in regions
where the number of internet users is increasing rapidly. China and
Brazil are amongst the largest user groups of free domains. But also in
the local partner countries, like Gabon and Mali, free domains have
become very popular.
"The free domain name model radically changes the way a top level domain
registry operates. We help partner countries to transform paid domain
systems and processes into a new platform where domains are free and can
be registered by everyone, locally and abroad." Zuurbier continues. "We
try to build truly win-win relationships with our partner countries. As
a result we've seen a huge increase of local website building and
technology usage locally, while providing the countries an additional
income stream and promotional exposure. KIMA's investment allows us to
rapidly expand this platform, to reach out to additional countries and
to invest in new partner relationships."
Revenue is generated by monetizing the expired domain names. Domains
that are no longer used by the registrant or are expired are taken back
by Freenom and the residual traffic is sold to advertisement networks.
Next to this primary source of income, additional revenue will be
generated by offering digital white labeled services, such as hosting
packages, SSL certificates and others, to free domain name users. These
new services will be available from January 2014 onwards.
Freenom found a safe way to provide free domain names to the global
internet community. Freenom operates a global network of more than 50
trusted partners that have implemented an API to take down domain names
immediately when these domains are allegedly involved in spam, phishing
or copyright infringement. Partners include Facebook (News - Alert), Twitter, Anti
Phishing Alliance of China and many others. As a result of this
initiative .TK, the largest country code top level domain, is seen as
one of the safest domains, according to a recent study of Architelos.
About Freenom: Freenom is a Registry Operator for top level domains.
With a secure and stable DNS AnyCast Cloud, fast Registration System and
unique business model built around free domain names Freenom provides a
complete solution for all top level domains. Freenom operates more than
20 million active domain names and is the largest Registry Operator
after .COM. Freenom is headquartered in Amsterdam, Netherlands, but has
satellite offices in Palo Alto (News - Alert) (U.S.A.) and Dakar (Senegal).
About Kima Ventures: The Kima Ventures fund was started in 2010 by
entrepreneurs for entrepreneurs with the goal to support and finance
innovative companies with seed capital all over the world. Since 2010,
Kima Ventures has made investments in 205 companies in 23 different
countries all over the world including companies such as Sparrow,
Rapportive, FreshPlanet/SongPop, FormLabs, MovableInk, Powtoon,
Weekdone, ShareDesk and BoatBound.
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