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Yawn… Google buys shortcut g.co for millions

Do I have to write another 19 of these stories?

.CO Internet has announced the sale of the domain name g.co to Google. It will be used – shock! – as a URL shortener for Google’s services.

While the selling price has not been disclosed, I believe the starting bid for single-character .co domains is around $1.5 million. I expect Google will have paid more.

Google said on its official blog that only Google will be able to create g.co short links and they’ll only redirect to Google sites, unlike goo.gl, which is its customer-facing shortening service.

This is excellent news for .CO, of course. It gets yet another super-high-profile anchor tenant that will spread .co links (and, hopefully for the company, awareness) around the web like a virus.

Amazon acquired a.co, z.co and k.co, Overstock is of course now known as O.co, Go Daddy got x.co and Twitter is using t.co as its official URL shortener.

By my reckoning, that leaves another 19 one-letter .co names to sell. The registry’s windfall could quite easily amount to a year’s revenue for just 26 registrations.

That’s not including the numbers, of course.

Speaking of numbers, .CO also announced today that Silicon Valley incubator 500 Startups is to use 500.co, instead of 500startups.com, as its official domain.

Entrepreneurs, not URL shorteners, are .CO’s target market, vital for its longevity, so it was a very smart PR move to combine these two customer wins into one announcement.