bit.ly - is a utility that allows users to shorten the length of an URL and then track the resulting usage.
What is the difference between the two bookmarklets?
bit.ly offers two bookmarklets for different scenarios - the "Info" bookmarklet shows traffic, conversations, and your history of shortened links. The "bit.ly" bookmarklet is geared toward Twitter users, and lets users include highlighted content as well as the shortened URL in a Twitter post.
http://bit.ly/
http://bit.ly/app/faq
bit.ly - URL Shortener
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bit.ly is an alternative to the web-shortcut site TinyURL
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