ICANN Receives Loans to Meet Expenses

Strategic Insights -

ICANN, the global organization overseeing the Domain Name System, has secured loans from MCI Worldcom and Cisco Systems to address temporary financial needs. The funds, totaling $500,000 and $150,000 respectively, bring ICANN's target of $2 million closer. The loans will enable ICANN to continue its organizational work and address policy issues important to the Internet community. ICANN's Interim Chairman, Esther Dyson, has expressed gratitude for the support, and discussions with other corporations are ongoing to secure permanent funding.

Key Takeaways:

  • ICANN received loans of $500,000 from MCI Worldcom and $150,000 from Cisco Systems to temporarily meet expenses.
  • The total amount of loans received so far is $650,000, which is part of ICANN's target of $2 million.
  • The funds will be used to continue ICANN's current organizational work and address policy issues important to the Internet community.
  • ICANN Interim Chairman Esther Dyson appreciates the new funding support from Cisco Systems and MCI Worldcom.
  • Discussions with other corporations are ongoing to secure permanent funding for ICANN.
  • ICANN assumes responsibility for coordinating the management of the domain name system (DNS), allocating IP address space, assigning protocol parameters, and managing the root server system.
  • ICANN is a non-profit, international corporation formed in September 1998 to oversee Internet technical management functions.

Statistics:

  • ICANN received $650,000 in loans from MCI Worldcom and Cisco Systems.
  • ICANN's target for permanent funding is $2 million.
  • ICANN was formed in September 1998.
  • ICANN assumes responsibility for coordinating the management of the domain name system (DNS).
  • ICANN allocates IP address space.
  • ICANN assigns protocol parameters.
  • ICANN manages the root server system.

Sources:

Source 1: BUSINESS WIRE - "ICANN Receives Loans in Amount of $500,000 from MCI Worldcom and $150,000 from Cisco Systems" (Aug. 20, 1999)

Source 2: About ICANN - ICANN is a non-profit, international corporation formed in September 1998.