You must already know that Google has its own URL Shortener goo.gl which was released in December 2009, and maybe even you are one of the users.
And yesterday Google announced that they has purchased g.co which is their new URL Shortener that will only link to official Google products and services. It is estimated that the price of g.co is about $1.5 million.
What about goo.gl?
There’s no need to fret about the fate of goo.gl; we like it as much as you do, and nothing is changing on that front. It will continue to be our public URL shortener that anybody can use to shorten URLs across the web.
It seems now Google is doing a massive changes to all its products, perhaps this is one of Google's plan to beat Facebook on Social Media.