Yes they do.
You are probably familiar with URLshorteners like bit.ly, tinyurl.com and goo.gl These sites make it very easy to share very long web site addresses by shortening them to just a few characters. Ever noticed how sometimes links in emails get broken up and don’t work when you click on them? URL shorteners fix this problem.
Here’s an example: http://bit.ly/1oPnLXi
The best quality URL shorteners use a 301 redirect. The good news is that the Google PageRank and anchor text flows through 301 redirects. This means you should never face any problem in sharing your links using URL shorteners on other websites.
Say, for example, one of your business partners has offered you a link from their suppliers page. Rather than emailing them a very long and easy to break link, paste the url into a site like bit.ly and then email them the bit.ly link, rather than the real link.