Internet S.A.S., the company which is operating the registry for the .Co ccTLD announced today that Overstock.com, a member of the USA Today Internet 50 Index, purchased the domain name O.CO from it for $350,000
We told you a big announcement of a record setting sale for a .CO was coming this week, and it didn’t take long.
I can give you a little background on the sale.
I had a conversation with a representative of OverStock at at a cocktail party which was an official event at the ICANN meeting in Brussels about domain names during which I brought up that it might be a good idea for Overstock to acquire O.CO since Twitter, at the time, had just acquired T.CO
Well you could actually see the light bulb go off over the guys head just like in the cartoons.
It was just something he never considered but once he heard it, he was very interested.
We had about a 15 minute talk after which I asked if he would like me to make a mutual introduction to the .Co registry to him, and now a little over a month later there is a record setting $350K sale for a .CO domain.
I’m sure all of you are glad to see that this sale was not a trademark sale or a “hack” as many of you guessed response to our tease post of Sunday.
Many readers guessed it would be Pepsi.co or cis.co.
I have to give credit to one reader Katrina who was first to comment “is this single char .co ?”, and Brady who agreed “it has to be a single character domain”, nice job guys.
Beyond The .CO registry and Overstock the next happiest person on earth has to be Lonnie Borck whose group purchased E.CO for just $81K just a month ago. I only went as high as $25K in the auction
This record setting price is over 4x more than what Lonnie paid.
In response to our post about the sale, most commentators thought at the time the purchase was high priced and a waste of money.
I told you at the time Lonnie was a smart guy.
Here is what Overstock had to say about the acquisition:
“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’.”
We congratulate both the registry and Overstock.