NameSilo Technologies Corp. Provides Corporate Update
NameSilo LLC Continues to Grow.
Domains under management continue to grow and have reached record levels having surpassed 3.82 million. As of the last RegistrarOwl reporting period (November 30, 2020) Namesilo was the 12 largest domain registrar in the world. The company has grown domains by over 300,000 since that date.
The company is also pleased to announce that it has successfully launched a full suite of ancillary services including web hosting and email services via Gmail and Titan email. These new ancillary services are now beginning to add higher margin revenues to the company’s growing revenue base.
March reached a record in monthly revenue and exceeded US$3 million for the first time in company history. Due to this growth and the continued strong free cash flow from operations NameSilo Technologies has paid down an additional C$940,000 in outstanding debt. The company currently has approximately C$4.7 million in debt outstanding.
As per the press release issued on December 2, 2020 the company announced that it had entered into a non-binding letter of intent with WGH Holdings BV whereby the buyer, subject to the entry into a definitive agreement, will acquire all of the company's interest in Namesilo LLC. Both parties continue to work towards meeting the conditions to enter into a definitive agreement. More details will be announced when available.
NameSilo Technologies Corp.
President, CEO and Director
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 approximately 3.8 million active domains under management, and over 180,000 active 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. 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.
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