naulicreative / Shutterstock.com
Web hosting network Vidahost has reportedly increased the price of its .biz domain name by a “third” blaming the UK’s recent decision to leave the EU as a reason for the increase.
According to technology news website The Register, the company sent an email to its clients, explaining that the Brexit exchange-rate slump was a reason for the price hike.
Vidahost increased the price of its .com, .biz, .net, .net, .org and .info domains to £9.99 ($13.1), excluding VAT on August 25. The previous price was £7.49.
“True to form we focused on how this decision would affect our customers. It was clear that there would likely be some pricing issues around exchange rates between currencies.
“The exchange rate for US dollars has suffered in particular, which has a direct impact on the cost prices for the vast majority of domain names as we are charged in US dollars by the registries (the companies which manage top level domains like .com).”
The company added: “We have no choice but to adjust our Great British pound pricing to reflect the additional cost and ensure we remain sustainable.”
TBO’s sister publication WIPR has followed Brexit’s impact on IP closely. Click on the links below for more.
This was first pubished on World IP Review.
Vidahost, Brexit, .biz, .com, gTLD, European Union, Great Britsh pound, US dollars, registries,