At first, BudURL.com looks like yet another URL shrinking site, but it has another feature that really makes it valuable: BudURL tracks the clicks for each URL you setup and lets you run reports that include the Timestamp, Referrer, IP address, Keywords, and IP Host that clicked on your link.

I see lots of people using this service on twitter.com so you can setup a special promotion URL and then track how many people respond to it. You can also use it for any regular link on a web site. 

BudURL lets you setup 250 URLs under the free plan but also includes premium plans ranging from $4 to $49 per month with more URLs and reporting capabilities (including clickstreams).

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So far I’ve only setup 2 URLs to test out the service, but it looks really promising and very valuable. What’s your experience with BudURL or other similar sites?