Overstock.com
Overstock.com is an online retailer headquartered in Cottonwood Heights, Utah, near Salt Lake City. Founded in 1997 by Robert Brazell, under the name D2: Discounts Direct, it pioneered the online sale of surplus merchandise. It now features a combination of surplus, returned, and new items.
The company changed its name to Overstock.com in 1999, when it was purchased by Patrick M. Byrne. The company then began selling surplus and returned merchandise on an online E-commerce marketplace, buying the surplus inventory of at least 18 failed dot-com companies at below-wholesale prices. In recent years it has expanded to sell new merchandise.
Overstock went public in May 2002 at an IPO price of $13. After achieving significant growth and profits in some early quarters, the company's stock traded as high as $77, but following recent losses the company has traded as low as single digits. Its major rivals are thought to be Amazon.com and eBay.
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