Negari is the founder and CEO of XYZ.com, an Internet domain registry that owns alternative suffixes like .rent and .college. His 10-person company also owns .xyz.
Abc.xyz is the web address for Google's new parent entity, Alphabet Inc.
"Our registry is lighting up right now," said Negari, in an interview Monday afternoon following Google's announcement. "I'm seeing all kinds of names being registered. I just got 250 names registered in the last 60 seconds. It's crazy."
In a full day, Negari said about 3,000 addresses are typically registered under .xyz. Domains with that extension can be purchased from services such as GoDaddy for $10 a year and Namecheap for a first-year fee of $1.
Negari is cashing in thanks to a 2011 decision by the Internet Corporation for Assigned Names and Numbers (ICANN) designed to expand access to extensions beyond .com, .org and .edu. The market opened up to those websites in 2014.
Of the more than 350 new extensions that are now available, .xyz is by far the most popular, with 1.14 million domains having been registered, according to nTLDstats. The next most active is .science with over 326,000, followed by .club with over 278,000.
Negari, who turned on .xyz to the public in June 2014, declined to say how much Google paid for abc.xyz, citing a confidentiality agreement. To acquire the .xyz extension, Negari paid a mere $185,000 application fee. There were no other applicants, so Negari didn't have to bid in an auction.
A spokesperson from Mountain View, California-based Google said "we have nothing to add here."