This goes under "Why did I not think of that?" category.
"(Kevin) Ham makes money every time someone clicks on an ad -- as does his partner in this venture, the West African country of Cameroon. Why Cameroon? It has the unforeseen good fortune of owning .cm as its country code....hardly any .cm names are registered, and the letters are just one keyboard slip away from .com, the mother lode of all domains."
Read more at Business 2.0
Also, NY Times has an article on NameMedia which has raised $120 million in financing in the last year, and owns 725,000 Web sites
"Behind this suddenly active business category — which includes companies like iREIT in Houston, Marchex in Seattle, and Demand Media in Santa Monica, Calif. — is the recognition that not all Internet users turn to a search engine when they are confused about where to find something online. Rather, 5 percent to 10 percent of people will simply type in a name that sounds as if it might suit their needs."
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