Google has acquired the one-letter domain G.CO.

Google will use the purchased domain name to create a link shortening system.

The G.CO domain is planned to be used for shortening links in the company's own projects. It's possible that the new domain will become the default shortening system for the recently launched Google+ social network.

The company announced that it would use the new domain only to redirect users to Google-owned pages, meaning links from the G.CO domain would only link to Google services. The company made this decision for security reasons—users can be confident that the links lead to one of the company's services, not to an external site that could be infected with malware.

Let us remind you that Google already uses its own link shortening system Goo.gl.

Experts estimate the value of single-letter domains in the .CO zone at hundreds of thousands of dollars.