Overstock Inc.: Difference between revisions
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==History== | ==History== | ||
Overstock.com was originally founded by Robert Brazell as D2: Discounts Direct, a limited liability corporation in 1997. D2:Discounts Direct failed and | Overstock.com was originally founded by Robert Brazell as D2: Discounts Direct, a limited liability corporation in 1997. D2:Discounts Direct failed and Dr. Patrick M. Byrne acquired the company. In 1999, Byrne launched the company website under its new name, Overstock.com selling excess inventory merchandise with less than 100 products. Byrne established Overstock.com under the principles of value,investing and fair dealing.<ref>[http://www.overstock.com/about?TID=FOOT:CI:ABOUT Company History]</ref> Brazell remain President and CEO of the new Overstock.com until his resignation on October of 1999. He agreed to serve the company as consultant for 18 months.<ref>[http://www.sec.gov/Archives/edgar/data/1130713/000091205702015487/a2072689zs-1a.htm Overstock.com FORM S-1 REGISTRATION STATEMENT, page 64]</ref> | ||
At the end of year 1999, the company recorded a total revenue of $1,089,873,000.<ref>[http://www.overstock.com/about Corporation Information Quick Statistics]</ref> In 2000, Overstock.com acquired ToyTime.com Inc.,<ref>[http://www.internetretailer.com/2001/06/29/estate-sale-today Estate Sale Today]</ref> Gear.com, a leading closeout online retailer of sporting goods, online jewelers Miadora.com, Jewelry.com.<ref>[http://www.deseretnews.com/article/787982/SL-based-Overstockcom-triples-inventory-through-acquisitions.html S.L.-based Overstock.com triples inventory through acquisitions]</ref> | |||
In 2002, the company filed its Initial Public Offering (IPO) under the ticker symbol OSTK with the Security and Exchange Commission. Overstock.com offered 3 million common shares at $13 per share and it was able to raise $39 million. <ref> | In 2002, the company filed its Initial Public Offering (IPO) under the ticker symbol OSTK with the Security and Exchange Commission. Overstock.com offered 3 million common shares at $13 per share and it was able to raise $39 million. <ref> | ||
Revision as of 03:14, 10 September 2011
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| Type: | Public |
| Industry: | Internet Retailer |
| Founded: | 1999 |
| Founder(s): | Dr. Patrick M. Byrne |
| Headquarters: | Salt Lake City, Utah |
| Country: | USA |
| Revenue: | $1,089,873,000 as of 2010 [1] |
| Website: | Overstock.com |
| Facebook: | O.co |
| Twitter: |  @odotco
|
| Key People | |
| Dr. Patrick M. Byrne, Chairman & CEO Jonathan E. Johnson III, President Geoff Atkinson, SVP, CRM & Demand Management Steve Chesnut, SVP Finance Sam Peterson, SVP Technology Stormy D. Simon, Board Member & SVP Customer Experience | |
Overstock.com also known O.co is an online close out retail store offering a variety of brand name merchandise including apparel, bed & bath,electronics, home decorations, furniture, jewelry, kitchenware and many other products. The company also maintains an auction site where interested entities will be able to buy and sell products and services. A listing for cars and real estate for sale is also available in the company website.[2]
History
Overstock.com was originally founded by Robert Brazell as D2: Discounts Direct, a limited liability corporation in 1997. D2:Discounts Direct failed and Dr. Patrick M. Byrne acquired the company. In 1999, Byrne launched the company website under its new name, Overstock.com selling excess inventory merchandise with less than 100 products. Byrne established Overstock.com under the principles of value,investing and fair dealing.[3] Brazell remain President and CEO of the new Overstock.com until his resignation on October of 1999. He agreed to serve the company as consultant for 18 months.[4]
At the end of year 1999, the company recorded a total revenue of $1,089,873,000.[5] In 2000, Overstock.com acquired ToyTime.com Inc.,[6] Gear.com, a leading closeout online retailer of sporting goods, online jewelers Miadora.com, Jewelry.com.[7]
In 2002, the company filed its Initial Public Offering (IPO) under the ticker symbol OSTK with the Security and Exchange Commission. Overstock.com offered 3 million common shares at $13 per share and it was able to raise $39 million. [8]
Overstock.com acquired online travel company Ski West Inc. for $ 25 million cash in 2005.[9] The acquisition expanded the company's travel business which was introduced to in 2003. However in 2005, the company decided to sell OTravel.com, its travel services subsidiary because of its $6.9 million loss and a goodwill impairment charge of 4.5 million in 2006.[10]
On April 2011, Overstock.com acquired the naming rights of the Oakland-Alameda County Coliseum for six years. The name of the coliseum is now Overstock.com Coliseum.[11]
Objective
The company aims to become the leading internet-based close-out solution for brand name merchandise holders and the primary one-stop online discount shop for consumers.[12]
Company Growth and Expansion
References
- ↑ Revenue 2010
- ↑ www.overstock.com Who We Are
- ↑ Company History
- ↑ Overstock.com FORM S-1 REGISTRATION STATEMENT, page 64
- ↑ Corporation Information Quick Statistics
- ↑ Estate Sale Today
- ↑ S.L.-based Overstock.com triples inventory through acquisitions
- ↑ overstock.com, Inc. Initial Public Offering
- ↑ Overstock.com Acquires Ski West, Inc.
- ↑ Overstock.com selling its OTravel.com subsidiary
- ↑ Overstock.com Acquires Naming Rights to Oakland-Alameda County Coliseum
- ↑ Overstock.com FORM 10-K/A