NameSilo Technologies Corp. issued a corporate update:
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.
