The world is being offered a new domain name to register a website under.
Today sees the public release of .co, which, despite its humble beginnings as Colombia's official domain, is expected to gain a large following across the globe.
"Today's launch of the .co domain represents the next phase in the growth and development of the internet," said Juan Diego Calle, chief executive (CEO) of .CO Internet.
"The .co domain will create new opportunities in global commerce, content development, social media and other forms of interactivity, which will enrich the overall internet experience for everyone."
The domain name was pre-launched back in February and attracted almost 40,000 website applications.
There are now aspirations that it will encourage what many see as an overcrowded internet to expand and, in turn, encourage new businesses to take full advantage of what the web can bring.
Tim Draper, founder of the global venture capital firm Draper Fisher Jurvetson, said: "For all intents and purposes, the .com reservoir is empty of meaningful domains. It's a constant struggle, especially for start-ups, to find a credible domain name that best describes their business or product."
"The new .co domains are a breath of fresh air across an otherwise stagnant ocean, and I'm personally excited to be able to help my portfolio companies achieve their desired goals starting with building the best possible online brand."
"The early signs suggest it will be country neutral and we should find out over the next couple of days," he said.
"[But] if the .co ccTLD is not country neutral, this will make the job of ranking in Google's UK natural search results significantly harder with a .co domain and may cause unexpected problems for early adopting UK businesses."
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Jennifer Scott is a former freelance journalist and currently political reporter for Sky News. She has a varied writing history, having started her career at Dennis Publishing, working in various roles across its business technology titles, including ITPro. Jennifer has specialised in a number of areas over the years and has produced a wealth of content for ITPro, focusing largely on data storage, networking, cloud computing, and telecommunications.
Most recently Jennifer has turned her skills to the political sphere and broadcast journalism, where she has worked for the BBC as a political reporter, before moving to Sky News.