Overstock Inc.

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
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 Stephen Tryon, SVP Logistics

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.

History

Overstock.com was originally founded by Robert Brazell as D2: Discounts Direct, a limited liability corporation in 1997. D2:Discounts Direct failed and it was acquired Dr. Patrick M. Byrne. 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.

In 1999, the company recorded $1,089,873,000 in total revenue. In 2000, Overstock.com acquired ToyTime.com Inc., Gear.com, a leading closeout online retailer of sporting goods, online jewelers Miadora.com, Jewelry.com.

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.

Overstock.com acquired online travel company Ski West Inc. for $ 25 million cash in 2005. 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.

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.