[Npoc-discuss] Fwd: [Chapter-delegates] Important Announcement from the Internet Society and Public Interest Registry

Wed Nov 13 18:11:32 UTC 2019

Dear NPOC Members,

As you are aware, this news has it's implications for many .ORG not for
profits.

This forwarded information from ISOC President is for our debate.
Caleb Ogundele

---------- Forwarded message ---------
From: Andrew Sullivan via Chapter-delegates <
chapter-delegates at elists.isoc.org>
Date: Wed, Nov 13, 2019, 5:23 PM
Subject: [Chapter-delegates] Important Announcement from the Internet
Society and Public Interest Registry
To: chapter-delegates at elists.isoc.org <chapter-delegates at elists.isoc.org>

Dear Chapter Delegates,

I am pleased to let you know about some important news that we will be
announcing today.  The Internet Society (ISOC) and Public Interest Registry
(PIR) are set to announce that they have reached an agreement with Ethos
Capital, under which Ethos Capital will acquire PIR and all of its assets
from the Internet Society.  Going forward, Public Interest Registry will
continue to manage the .ORG domain and advance its important mission –
under new ownership.  This is an exciting development that will provide
long-term benefits for both organizations.  For the Internet Society, the
transaction will deliver long-term, sustainable funding through a new
endowment that will give us greater financial security, and allow us to
continue our mission on a broader scale.  This means that not only are we
able to secure the Internet Society’s financial future, but we will also be
able to do more to ensure that the Internet is for everyone.  Here is the
joint statement we will be releasing.

PRESS RELEASE
Ethos Capital to Acquire Public Interest Registry from the Internet Society

*Public Interest Registry Will Continue Management and Mission of .ORG
Under New Ownership*

Reston, VA (November 13, 2019) – The Internet Society and Public Interest
Registry (PIR) today announced that they have reached an agreement with
Ethos Capital, under which Ethos Capital will acquire PIR and all of its
assets from the Internet Society.  The transaction is expected to close
during the first quarter of next year.

“This is an important and exciting development for both the Internet
Society and Public Interest Registry,” said Andrew Sullivan, President and
Chief Executive Officer of the Internet Society, the organization that
established Public Interest Registry.  “This transaction will provide the
Internet Society with an endowment of sustainable funding and the resources
to advance our mission on a broader scale as we continue our work to make
the Internet more open, accessible and secure – for everyone.  It also
aligns Public Interest Registry with Ethos Capital, a strong strategic
partner that understands the intricacies of the domain industry and has the
expertise, experience and shared values to further advance the goals of
.ORG into the future.”

“Since the inception of Public Interest Registry, our mission has been to
enable the .ORG Community to use the Internet more effectively and change
the world for the better,” stated Jon Nevett, CEO of Public Interest
Registry.  “That will not change.  We have enjoyed a long and successful
relationship with the Internet Society, and are thrilled that we will be
able to continue – and expand – our important work with Ethos Capital while
sustaining our commitment to the .ORG Community going forward.”

Following the close of the transaction, PIR will continue to meet the
highest standards of public transparency, accountability, and social
performance in line with its longstanding purpose-driven mission, and will
consider seeking B Corporation certification.  All of PIR’s domain
operations and educational initiatives will continue, and there will be no
disruption of service or support to the .ORG Community or other generic
top-level domains operated by the organization.

“We are excited to support PIR’s mission and build upon the incredible work
it has done to promote success and positive impact for the .ORG Community,”
said Erik Brooks, Founder & CEO of Ethos Capital.  “As part of our
commitment to setting the gold standard of registry operations, we will be
establishing a Stewardship Council that will serve to uphold PIR’s core
founding values and provide support through a variety of community
programs.”

Mr. Brooks added: “Importantly, throughout the transition and beyond, we
are committed to ensuring complete continuity of PIR’s operations and
enhancing the relationships PIR has established over the years.  We look
forward to continuing PIR’s longstanding partnerships and vendor
affiliations to ensure domain operations run smoothly and without
interruption.”

Vint Cerf, former Chairman of the Board of ICANN and founding President of
the Internet Society, said: “When the Internet Society won the bid to
operate the .ORG registry, it enabled a productive and sustainable future
for the organization.  Public Interest Registry exercised its stewardship
to the benefit of the registrants and the Internet Society’s mission.  I am
looking forward to supporting Ethos Capital and PIR in any way I can as
they continue to expand the utility of the .ORG top level domain in
creative and socially responsible ways.”

PIR was established by the Internet Society in 2002 to manage and operate
the .ORG domain.  Since then, .ORG has risen to become the largest
purpose-driven domain used by millions of organizations and others to
achieve their online goals.

Goldman Sachs & Co. LLC is serving as financial advisor to both the
Internet Society and PIR.  Morgan, Lewis & Bockius LLP and Proskauer Rose
LLP are serving as legal advisors to the Internet Society and PIR,
respectively.  Macquarie Capital is serving as financial advisor and
Morrison & Foerster LLP is serving as legal advisor to Ethos Capital.

*About Public Interest Registry*

Public Interest Registry (PIR) is a nonprofit corporation that operates the
.ORG top-level domain—one of the world’s largest generic top-level domains
with more than 10 million domain names registered worldwide. As an advocate
for collaboration, safety, and security on the Internet, PIR’s mission is
to serve as an exemplary registry and to provide a trusted digital
identity. PIR strives to educate the global community to use the Internet
more safely and effectively while taking a leadership position among
Internet stakeholders on policy and other issues relating to the domain
naming system. PIR was founded by the Internet Society (
https://www.internetsociety.org) in 2002 and is based in Reston, Virginia,
USA. Visit Public Interest Registry at https://pir.org.

*About .ORG*

.ORG is the original purpose-driven “generic” top-level domain (gTLD) with
more than 10 million domain names registered worldwide. .ORG is open to
everyone, providing a global platform for organizations, associations,
clubs, businesses and individuals to bring their ideas to life. For more
than 30 years, .ORG has built an enduring legacy of trust, preserving an
open and secure Internet where diverse communities can establish a trusted
online identity and freely share ideas. Visit www.TheNew.org for more
information.

*About the Internet Society*

Founded by Internet pioneers, the Internet Society (ISOC) is a non-profit
organization dedicated to ensuring the open development, evolution and use
of the Internet. Working through a global community of chapters and
members, the Internet Society collaborates with a broad range of groups to
promote technologies that keep the Internet safe and secure, and to
advocate for policies and infrastructure that enable universal access. The
Internet Society also provides a corporate home for the administrative
entity that supports the Internet Engineering Task Force (IETF). For
additional information, visit https://www.internetsociety.org/.

*About Ethos Capital*

Ethos Capital is a specialized investment firm that helps transform and
grow established companies in today’s rapidly evolving digital economy.
Ethos Capital’s Founder and CEO, Erik Brooks, has deep expertise and
relationships across the business, technical, and social communities that
protect and promote the Internet’s core founding values.  As a
mission-driven firm, Ethos Capital is committed to setting the gold
standard of ethics and social responsibility for registry operations and
supporting a globally connected and resilient Internet.  For more
information, please visit https://ethoscapital.com/.

As soon as this news is publicly available, we will be posting the press
release on our website, together with a jointly written blog that will
provide additional context.  Owing to the confidential nature of this
process, we have been limited in what we have been able to share until now,
but I am excited to be able to bring you this positive news before it is
made public.  My email is always open should you have any questions.

Regards,

Andrew Sullivan

President & CEO, Internet Society

sullivan at isoc.org

+1 416 731 1261
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