Tech Crunch:

It looks like Apple has finally picked up one of the last remaining pieces of internet property linked to one of its key service brands: the iPhone and Mac giant has quietly taken over ownership of iCloud.net, TechCrunch has learned. Subsequent to that, the small-time Asian social network that existed at the site has informed its users that it will be shutting down by the end of this month.

And:

The icloud.net domain — which is now controlled by Apple — was one of the last major iCloud-based web addresses that was not owned by the company. (Perhaps the last major one? not quite, there is also iCloud.co.uk, owned by Dennis Publishing.)

In 2011, just before officially unveiling its own iCloud storage service (but after there had been leaks about its imminent arrival), Apple acquired iCloud.com from Swedish software company Xcerion, which had launched its own cloud-based storage service under that name in 2007, and in 2011 rebranded it to CloudMe. It was later confirmed in Xcerion’s accounts that Apple paid about 47 million Kroner ($5.2 million) for the domain.

This is like buying houses to assemble a real estate parcel so you can build something large, like a 20 story building. The first purchases are done quietly, without raising awareness of the value of the individual properties. Once the cat is out of the bag, the price goes up. And that last holdout reaps the big reward, the largest price tag.

Though sometimes, the project falls apart and the value plummets, making it better to be second to last.