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.CO’ to target new audiences and expand its global brand.
“The 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. “Dollar for dollar, it’s a homerun and well worth the investment because it reinforces among consumers that â€˜O’ is synonymous with â€˜Overstock’.â€
Overstock.com has been big on going after any single letter ‘o’ domain it can get, including a deal to get o.biz.