A Libyan domain name has surprised the market by selling for a six-figure sum.
Enterprise applications and services company Infor has set an impressive marker for domain names ending with a .ly country code top level domain.
The firm is reported to have paid around $100,000 for the rights to local.ly, which was previously owned by a company called Libyan Spider.
According to TechCrunch, the firm’s owner, Hadi Naser, owns several hundred premium .ly domain names.
Last year, the company cashed in on the domain name dai.ly, which it sold to DailyMotion for $17,000.
Meanwhile, the domain name song.ly is reported to have sold for a $50,000 sum.
There are around 200 county code top level domain names currently in use, such as Colombia’s .co, Australia’s .au and the UK’s .co.uk.