Overstock.com Buys O.co For $350,000

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 firms see the fresh .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 disclosed it paid $350,000.00 USD to acquire ‘O.CO’ to target fresh 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,” stated Overstock.com Chairman and CEO Patrick Byrne. “Dollar for dollar, it’s a homerun and well worth the investment since it reinforces among consumers that ‘O’ is synonymous with ‘Overstock’.”

Overstock.com has been big on going following any single letter ‘o’ domain it can get, counting a deal to get o.biz.