MMX, which manages an impressive portfolio of new generic top-level domains, released its 2020 performance report. The results were not impressive, to put it mildly. The company's total revenue fell from $17.2 million to $16.8 million. Profit grew, but insignificantly – $2.9 million in 2020 compared to $2.8 million in 2019, according to Domain Incite, citing the report.
The situation with its operating business is even sadder. The number of domain names in the domain zones managed by the company decreased by 19%, from 2.26 million to 1.99 million. And the average renewal rates of registrations look catastrophic. This is especially true of MMX’s flagship domains .VIP and .WORK, with renewal rates of 36% and 18%, respectively. For a business in which a 70% renewal rate is considered healthy, these numbers are surely terrible.
The company is selling its assets to GoDaddy. The deal must close no later than this August. However, it is fair to say that the published report did not please the buyers in any way.
