Overstock.com Buys O.co For $350,000
Monday, July 19th, 2010
Internet retailer snaps up one character .co domains for big bucks.
On the eve of the .co general availability launch comes news that Overstock.com purchased the o.co domain name for a whopping $350,000. This must be the sale that Michael Berkens alluded to.
From the press release:
Many visionary companies see the new .CO domains as an opportunity to extend their brand or expand their online offerings in a way that was not previously possible due to limited availability of .com domains. Recently, the e-commerce powerhouse Overstock.com announced it paid $350,000.00 USD to acquire â€˜O.COâ€™ to target new audiences and expand its global brand.
â€œThe O.CO domain presented us with an unprecedented opportunity to add a meaningful online presence that will enhance recognition for the “O” brand, align with current marketing initiatives, and make it easier for shoppers to find our products and services online,â€ said Overstock.com Chairman and CEO Patrick Byrne. â€œDollar for dollar, itâ€™s a homerun and well worth the investment because it reinforces among consumers that â€˜Oâ€™ is synonymous with â€˜Overstockâ€™.â€
Overstock.com has been big on going after any single letter ‘o’ domain it can get, including a deal to get o.biz.