Twitter has announced that it plans to develop and launch it's own URL shortening service to compete with the very popular services such as Tiny.url, Bit.ly, etc. The announcement was made by Twitter's CEO, Evan Williams, at Chirp, the Twitter developer’s conference.
Twitter's URL shortening service will be the default shortener for the social website and official Twitter apps on BlackBerry, Android and the iPhone.
Twitter purchased Twee.tt (the domain extension from Trinidad and Tobago), which will most likely become the root URL for the service. Many users may not be happy if forced to use the Twee.tt as a root since it contains one character more than Bit.ly and two more than J.mp.