Recode reported Wednesday that the top 10 tech companies paid an average of $5,310,749 for domain names in 2016.
That’s an increase of nearly 30 percent from the previous year, when the top tech companies received an average $4,839,567 for the same type of domain name.
The highest average price paid for a domain was $10,719,933 paid for Google’s Google.com, which is the search engine’s domain name for business, government and government-related organizations.
The study also showed that Google’s search engine accounted for nearly $2 billion in sales in 2016 and nearly $4 billion in revenue.
“There are a number of things that could go wrong for the technology companies that have been building up their networks of customers and employees over the last several years,” said Matt O’Connor, a senior vice president at DomainMarkets.com.
“For example, the company may not have built the networks or built the business that it needed to sell its services to those customers.”
O’Neill said that Google, Apple, Facebook and Amazon are the top three companies in terms of their average annual revenue.
The other two companies in the top ten were Microsoft and Cisco.
The top 10 companies received their average prices from two different companies: Microsoft paid $3.2 million for Google.net and Cisco paid $2.5 million for DomainMarkers.net.