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→ICANN Auction
===ICANN Auction===
===ICANN Auction===
On February 25, 2015, the applicants for .app entered into an [[ICANN auction|ICANN "auction of last resort"]]
On February 25, 2015, the applicants for .app entered into an [[ICANN auction|ICANN "auction of last resort"]] to resolve the contention set for the string. The auction format was a step auction as are all ICANN auctions, in which the auctioneer sets a price level for an interval of time and applications choose whether they are in or out. The auction concludes when only one applicant moves to the next price level.<ref>[http://www.thedomains.com/2015/02/26/app-rolls-into-a-second-day-in-the-icann-last-resort-auction-heres-why-what-it-means/ App rolls into a Second Day in The ICANN Last Resort Auction] TheDomains.com, Retrieved 02 March 2015</ref>
[[Google]] won the auction over the other applicants, paying a winning bid of $25,001,000.<ref>[https://gtldresult.icann.org/application-result/applicationstatus/auctionresults Auction Results] ICANN.org, retrieved 02 March 2015</ref> The proceeds for the auction will go into a separate ICANN fund to be used for a designated purpose. The other applicants for the string must withdraw their applications for .app.<ref>[http://www.thedomains.com/2015/02/26/google-wins-the-new-gtld-app-for-25-million/ Google Wins the New gTLD .app for $25 Million] TheDomains.com, Retrieved 02 March 2015</ref>
==References==
==References==
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