Overstock.com, Inc. is an American web merchant selling primarily furniture headquartered in Midvale, Utah, near Salt Lake City. Patrick M. Byrne established Overstock.com in 1999. The firm originally offered specifically surplus and returned goods on an on the internet shopping market, selling off the stocks of a minimum of 18 stopped working dot-com business at below-wholesale costs. The company remains to market home decoration, furnishings, bedding, and numerous other items that are closeout products; however, it likewise markets new merchandise.
In Might 2002, Overstock held an IPO at a per-share cost of $13; moreover, after achieving considerable development and also earnings in some very early quarters, the firm attained revenue of $7.7 million in 2009 and also reported its initial billion-dollar year in 2010. The business began rebranding in very early 2011, as "O.co", to streamline and also combine its worldwide operations however disturbed this initiative a couple of months later on, mentioning customer complication over the new name.