Bit.ly has announced a shorter url that will use all your current bits. Not only is j.mp 2 charactors shorter, but also makes a little more sense as a name.

j.mp has the same short URLs, metrics, history, user accounts (you’ll have to login again, but your bit.ly accounts will carry over), and customization you’ve come to enjoy on bit.ly, all on a short, memorable domain.  In fact, any bit.ly URL also works as a j.mp URL.

j.mp has all the same tools as bit.ly.  Click the image to check them all out.

Source [Bit.ly Blog, ReadWriteWeb]