Last night, Adage reported that Overstock “is stepping back from the O.co name “for now,” though not abandoning it outright.” Earlier today, .CO Registry founder and CEO Juan Calle posted an interview with someone from Overstock and labelled the change of course “a blip on the radar.”
I think this has been discussed quite a bit already today, but because I received a few emails asking for my opinion, I am going to opine. Keep in mind that I am and always have been a .com buyer/seller, so take my opinion with the same grain of salt you’d take from any comment from the peanut gallery.
With all due respect, if you bought .CO domain names simply because one large internet retailer made the decision to rebrand with a .CO domain name, you didn’t make such a wise decision. Yes, I do think that there will be greater and faster consumer adoption of .CO (and any gTLD) with more and larger companies using and marketing the extensions as their own. However, the world is far larger than any one company and/or marketing campaign.
I believe there are still plenty of reasons to own and invest in .CO (or other ccTLD and gTLD) domain names, and I’ve said all along that my time horizon is likely 5 years +/- for .CO. Just like the Meet.ME sale, all it really takes is one company deciding to utilize an extension to make someone sell a domain investment profitably. That said, the likelihood of owning a particular domain name that a company will pay top dollar for is minimal – in any extension
I still think good .CO domain names purchased for good prices will turn out to be profitable investments, but buying one simply because one company made a big marketing campaign and name change announcement is short sighted.
The introduction and marketing of new gTLDs will be rife with ups and downs. A domain investor needs to analyze domain names, both left and right of the dot, and determine why a particular domain name would have value, how much value it would have, and who might want to buy it. Don’t invest in domain names because of what one company is doing. Buy them because you have a vision for what many companies and consumers may think in the future.
Just because a company like Bitly is using a .LY doesn’t mean you should go out and buy a bunch of Libya ccTLDs. You should invest in domain names because you have conviction that they are going to be more valuable than what you are paying.