Beginning sometime in the next two weeks, Register.com customers will be able to hold on to their domain names for anywhere from a year to a full decade, the company said in a statement.
At the moment, ".com," ".net" and ".org" domain names are registered for up to two years, with an option to renew the names for another two years at the end of each term.
"For companies looking for long-term security and domain protection, our 10-year registration will allow them to save 15 percent of the cost plus the worry of renewals," Register.com chief executive Richard Forman said in a statement.
Register.com in June became the first company to compete with Network Solutions (NSI) in the domain name market. Until then, NSI had held a U.S. government-mandated monopoly in registering online addresses. Now there are hundreds of registrars competing for a slice of the lucrative ".com" business.
Getting a domain name is one of the first steps in establishing an online identity. It has been estimated that global domain name registrations will rise to 140 million names by the end of 2003 from about 11 million registered through the end of September 1999.
Last week, New York-based Register.com, which registered 159,000 new names in the three months ended Sept. 30, filed to raise $80 million in an initial public offering. Terms of the IPO, such as the number of shares and their projected price range, were not disclosed at the time.
The company has applied to trade on the Nasdaq stock market under the symbol "RCOM."