Something said in response to someone getting owned. Can also be applied to other objects, as in "C me," "C him," "C them," etc.
Your buddy: It took me 20 minutes to get to your house because of this old lady driving in front of me.
You: Heh, CU!
Your buddy: Yeah, but since it took so long, the ice cream I brought melted.
You: Ooh, C us.
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