Electra is a US-based startup on a mission to “slash carbon emissions from the US electrical grid by 2030”. The company acquired electra.co in April 2022 and shortly after invested in the exact brand match name electra.com. Domain name upgrades are often seen when startups launch on a compromise extension due to budget restraints. Once they secure some funding or/and prove their concept on the market, businesses often invest in their exact brand match .com as a brand asset.
When appropriately used, domain names can significantly impact brands’ success. Most experienced business owners are aware of this and make investments to secure potential misspellings of their primary domain name, various country extensions, and domains for particular marketing campaigns, products, or sub-brands.
.co was introduced in 1991 as a Columbian country code domain and later transformed into generic ccTLD. The extension became popular among startups as an alternative to the .com when the desired exact brand match domain is taken, or the company does not have the funds to acquire it. One benefit of using a .co is that it sounds familiar to a company or corporation. However, .com has a higher level of trust and credibility and is a worldwide option that millions of people recognize.