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Minds + Machines receives Beijing boost; strategic review going according to plan

The company's popular .vip top level domain can now be sold to businesses in China's capital
internet search field
The company should receive a further lift in November when its starts selling Chinese character .vip names

Minds + Machines Group Limited (LON:MMX) has received a significant boost in China, where its top level domain (TLD) .vip is gaining huge commercial traction.

It has received the green light in Beijing to start selling the hugely popular internet signature.

WATCH: Minds + Machines gets go-ahead to sell .vip in Beijing

It was one of ten businesses to gain authorisation in a market of 22 mln people and thousands of small and emerging businesses.

MMX says the latest permission will further “accelerate” its progress in the People’s Republic.

Numbers strong and growing  

Currently, Baidu.com, China's leading search engine, recognises over 705,000 individual .vip pages from 188,764 different .vip sites.

The company said it is “aware of further initiatives that will directly contribute to this continued usage growth of the domain in the coming months”.

The seller and registrar of top level domains should receive a further lift in November when it starts selling Chinese character .vip names.

READ: Minds + Machines in discussions with bidders from Asia, North America and Europe

In the same announcement, MMX said a strategic review of the business that could lead to its sale is progressing “according to the scheduled time-line with discussions ongoing with multiple parties”.

“A further update will be provided in due course,” it added.

In late afternoon trading, Minds + Machine shares - up 25% in the year to date - were 2%, or 0.25p higher at 13.00p.

-- adds video link, updates share price --

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