Breaking News: Overstock Purchases Single Letter Domain O.CO for $350,000
There is nothing like a short URL to help increase retention in branding. Today Overstock banked on that announcing the purchase of O.CO and associated domains for $350,000.
The move helps Overstock in two ways. It allows them to highlight further the O in their name which they have built a lot of branding around. From a pragmatic standpoint, in a time where the adoption of shortened URLS for web and mobile is ever increasing, dropping to a smaller URL has definite benefit. Expect to see a lot of O.CO on Twitter.
According to Patrick Byrne, Chairman and CEO of Overstock,
â€œThe O is such an important and recognizable part of our brand. In the new era of the Internet, where short and memorable web addresses are critical for capturing the attention of mobile and socially connected Internet users, our O.CO web address will help to reinforce our brand and expand our business among these audiences.â€
Overstock’s brand already enjoys strong recognition among consumers but this might be step to spin off part of their brand as more upscale. Especially since O.CO plays very well from an aesthetic design standpoint.
One has to wonder whether Oprah feels she missed out.