Overstock.com announced it purchased the domain name O.CO from .CO Internet, the official .CO registry for $350,000. The new domain name is intended to enhance Overstock.com’s brand recognition and retention, align with current marketing initiatives, and make it easier for shoppers to find the company’s products and services online.The deal includes the single-letter domain O.CO and related but unspecified domains for $350,000. Once launched, the O.CO website will carry all of the same products and have the same features as Overstock.com.”The O is such an important and recognizable part of our brand,” said Overstock.com Chairman and CEO Patrick Byrne. “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.””Overstock.com’s purchase of O.CO is an investment in its future, and it also speaks to the confidence they have in the credibility and marketability of the .CO domain,” said Juan Diego Calle, CEO of .CO Internet. “As one of the first U.S. public companies to use its .CO domain to build its global brand, Overstock.com is further proof that .CO domain names can create a new world of opportunities for companies and entrepreneurs to brand themselves online.”Since it was announced in February, .CO domains have already received tremendous support and adoption from the business and Internet communities, who applied for 39,000 .CO domains during the company’s “pre-launch” phase. The domain names for nearly 70% of the brands listed in the Brand Finance Top 500 have already been registered, including Amazon, American Express, Apple, BMW, Cartier, Canon, CNN, Coca-Cola, Disney, Ebay, Exxon, Ford, Google, Hilton, Honda, IBM, IKEA, Kodak, McDonalds, Microsoft, MTV, Nestle, Nike, Nokia, Panasonic, Pfizer, Samsung, Sony, Toshiba, Toyota, Unilever, Visa, Yahoo and many more.The “launch of the .CO domain represents the next phase in the growth and development of the Internet,” said Juan Diego Calle, CEO of .CO Internet. “The .CO domain will create new opportunities in global commerce, content development, social media and other forms of interactivity, which will enrich the overall Internet experience for everyone.”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 ‘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,” 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 ‘O’ is synonymous with ‘Overstock’.”Other well-known companies are using the .CO domain to expand their products or services. For instance, Twitter uses the t.co domain as part of a service to protect users from harmful activity, provide value for the developer ecosystem, and as a quality signal for surfacing relevant, interesting Tweets. The popular political blog Politico is using Politi.co as its official URL shortener. Many other companies have already built sites on .CO domains, which are currently showcased on www.Opportunity.co.For greater peace of mind, .CO domains also provide a greater measure of safety and security for its user’s online intellectual property. Other domain extensions allow proxy registrations or otherwise obfuscate the domain owner’s information, making it extremely difficult to identify potential domain squatters, trademark infringers or other fraudsters. .CO domain ownership will be highly transparent, which will deter those who seek to use the domain for fraudulent or abusive practices. .CO Internet has also instituted a Rapid Takedown Policy to suspend or remove domains in cases where phishing, pharming, malware, or other significant criminal and/or security threats have been established.”We’ve invested heavily in technologies and processes that address the needs of the business and Internet communities for greater brand protection and overall security,” said Nicolai Bezsonoff, chief operating officer, .CO Internet. “With so much promise and expectation riding on the success of the .CO domain, protecting the reputations, brands and businesses of our users is a top priority.”.CO Internet was required to meet stringent technical and operational criteria designated by ICANN in order to be re-delegated as the official operator of the .CO domain.With the launch of .CO domains, certain generic domains relating to specific industries, products and business categories, such as car.co, lending.co, adoption.co, insure.co and others are expected to generate extraordinary demand. As such, .CO Internet has withheld approximately 2,000 premium generic domains from today’s General Availability and will auction them to help promote and maintain the .CO domain. The auctions will take place at a variety of online and off-line venues over the course of the next 12 months.To register your .CO domain name, check out EuroDNS or America Registry.