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May 1, 2002 — (WEB HOST INDUSTRY REVIEW) — Domain name registrar Tucows Inc. (Tucows.com) said today it expected to see a strengthening domain name market based on industry data from the first quarter of 2002.
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The company said that new registrations for the domain name market in the first quarter by 13% to 2.6 million, up from 2.3 million in the fourth quarter of 2001. Tucows also said market renewals and extensions increased by 22%, and that the market renewal rate for the first quarter remained healthy at approximately 52%.
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During the first quarter of 2002, Tucows reported 893,000 domain name registrations, renewals and transfers-in, an increase of 17.6% from the previous quarter. Total active domain names under management at the end of the first quarter increased to more than 3.7 million.
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“We are very encouraged by the strength of the domain name registration market in the first quarter of the year,” said Elliot Noss, President and CEO of Tucows. “We believe that the domain name market is entering a new phase of its evolution – one characterized by quality customers and sustained growth.”
