Colombia’s move comes as seven new generic top level domains prepare to be released by various registry companies. With good .com domain names increasingly difficult to find, .co could clearly be used as an abbreviation for the word ‘company’.
The .co code could also prove popular with web site owners who are looking to attract traffic from sloppy typers who miss out the ‘m’ in .com. The introduction of .co domain names may also produce yet more challenges for companies who wish to defend their trademarks on the internet.
Colombia’s move follows the example of the island of Tuvalu in the South Pacific. Tuvalu’s .tv name was licensed to the US-based dotTV company for $50 million.
La Universidad de Los Andes hopes to use the proceeds from the bids to invest in scholarships and technological advances in Colombia.