Overstock.com Comments on U.S. Supreme Court Decision to Review South Dakota’s Sales Tax Case SALT LAKE CITY, Jan. 12, 2018 (GLOBE NEWSWIRE) — Overstock.com, Inc. (NASDAQ:OSTK) recognizes the attention that this case has generated, and looks forward to the opportunity to convince the Supreme Court to confirm its prior rulings protecting the free flow of interstate commerce from overreaching state tax […]
BUZ INVESTORS Overstockcom Inc. is an American internet retailer headquartered in Midvale, Utah, near Salt Lake City. Patrick M. Byrne founded the company in 1997 and launched the company in May 1999. Overstock.com initially sold exclusively surplus and returned merchandise on an online e-commerce marketplace, liquidating the inventories of at least 18 failed dot-com companies at below-wholesale prices. The company continues to sell home decor, furniture, bedding, and many other goods that are closeout merchandise, however, it also sells new merchandise.
In May 2002, Overstock held an IPO at a per-share price of $13, and after achieving significant growth and profits in some early quarters, achieved a profit of $7.7 million in 2009 and reported its first billion-dollar year in 2010. The business started rebranding in early 2011, as “O.co”, to simplify and unify its international operations but interrupted this effort a few months later, citing consumer confu
On January 9, 2014, Overstock.com became the first major retailer to start accepting bitcoin as payments for its goods. On the first day, they made sales worth US$126,000 in bitcoin. This represents a 4.33% increase in sales from their normal income of $3 million per day.
As of March 13, 2014, Overstock bitcoin income had shrunk to under 1% of their normal daily cash intake.
In a community interview with social media site Reddit on May 3, 2014, in response to a question to the Overstock CEO Patrick Byrne about the percentage of revenue and transactions paid for in bitcoin, Byrne responded that the percentage was “Tiny. <.1%”In mid-2014 Overstock.com announced that bitcoin sales were averaging $300,000 per month and that the company expected bitcoin sales to add 4 cents to the company’s 2014 earnings per share.
On September 14, 2014, Overstock announced it would begin donating 4% of bitcoin revenue to foundations that were advocating for cryptocurrency.
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Overstock.com Garners Global Attention from VR/AR Association for its Augmented Reality Shopping App erstock.com Garners Global Attention from VR/AR Association for its Augmented Reality Shopping App Amit Goyal, Overstock.com’s SVP of software engineering, chairs VRARA’s global retail and e-commerce committee and forms the Association’s Utah chapterSALT LAKE CITY, Jan. 09, 2018 (GLOBE NEWSWIRE) — Months after Overstock.com, Inc. (NASDAQ:OSTK) announced […]
Overstock.com Reports Q3 2017 Results Consolidated revenue of $424 million (-4% growth) and net loss of ($786,000) Retail net income of $1.1 million Medici net loss of ($1.9) million Updated tZERO ICO information Sale of warrants for 3,722,188 common shares SALT LAKE CITY, Nov. 08, 2017 (GLOBE NEWSWIRE) — Overstock.com, Inc. Common Shares (NASDAQ:OSTK) / Series A Preferred (Medici Ventures’ tZERO platform:OSTKP) / Series B Preferred (OTCQX:OSTBP) today […]
Overstock.com Becomes First Major Retailer to Accept Altcoins PRESS RELEASE Overstock.com, Inc. (NASDAQ:OSTK) announces an integration with ShapeShift, the world’s leading instant digital asset exchange, that allows customers to use all the major cryptocurrencies, including Ethereum, Litecoin, Dash, Monero, and the new Bitcoin Cash, to buy online from Overstock’s selection of nearly 4 million products, including, furniture, accessories, […]
Overstock.com Names Allison Abraham as Chairwoman of Board of Directors Company president Saum Noursalehi elected to the board BUZ INVESTORS PRESS RELEASE Allison Abraham Overstock.com, Inc. Common Shares (NASDAQ:OSTK) / Series A Preferred (Medici Ventures’ t0 platform:OSTKP) / Series B Preferred (OTCQB:OSTBP) announces the appointment of Allison Abraham as the company’s first chairwoman of the board […]