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Please see Microsoft study, Business Insider, and Search Engine Journal
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Some folks argue that domain type-in traffic is not worth endlessly renewing domains. More importantly, critical consideration should be given to identifying and understanding how damaging would it be to a brand for their competition to own the same domain(s).
While many argue building a industry-related domain portfolio is a waste of time and money, most fail to understand the depth to which Fortune 500 brands have invested time, money, and effort to procure and secure a growing empire of domain names.
For instance, Google owns just over 18,000 at latest count. Current President Donald Trump owns nearly 4,000 domains. Facebook owns over 2,000 domains, and Salesforce nearly 500 domains based on last associated Whois information. There are quite a few companies — all shapes and sizes — silently building industry-related domain portfolios.
While most large brands are recipients of lucrative domain portfolios through merger and acquisition (M&A) of existing businesses, there are a few cases where non-M&A transactions for single domains and domain portfolios occur — most domain sales likely not reported to keep competition in the dark and not to inform the public of their domain portfolio strategy. Even small, niche, or local brands can get in on the act of purchasing, building, and using a domain portfolio to grow and protect their brand. Nevertheless, how a brand goes about building their portfolio varies vastly.
source: https://www.thedomains.com/2018/09/13/should-small-businesses-consider-building-a-industry-related-domain-portfolio