Thanks to Twitter switching their default URL shortening service from TinyURL, Bit.ly is now the shortest URL service online today. Bit.ly currently has a 46.71% market share and TinyURL now has a 42.29%. About one month ago, TinyURL had a 75% market share and Bit.ly had only about 13%.
Ever since the growth in Twitter’s popularity, URL shortening services have been growing. Some companies have made shorter URLs around their services like TechCrunch and Digg. Some other examples of URL shortening services include Is.gd, ff.im, cli.gs, and ow.ly.
In late March, Bit.ly had raised around $2 million and spun out of incubator firm Betaworks. The above pie chart is created by Tweetmeme. They update the chart every 24 hours.