Difference between revisions of "Overstock.com"

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With its focus on blockchain technology and bitcoin, Overstock.com shares suffered as the prices for cryptocurrencies receded throughout 2018 losing 21% of their value by August, well before the markets-wide fourth quarter share price rout.<ref>{{cite web|url=https://www.bloomberg.com/news/articles/2018-08-14/overstock-loses-21-percent-of-market-value-as-crypto-craze-fades|name=Overstock Loses 21 Percent of Market Value as Crypto Craze Fades|org=Bloomberg|date=January 4, 2019}}</ref>   
 
With its focus on blockchain technology and bitcoin, Overstock.com shares suffered as the prices for cryptocurrencies receded throughout 2018 losing 21% of their value by August, well before the markets-wide fourth quarter share price rout.<ref>{{cite web|url=https://www.bloomberg.com/news/articles/2018-08-14/overstock-loses-21-percent-of-market-value-as-crypto-craze-fades|name=Overstock Loses 21 Percent of Market Value as Crypto Craze Fades|org=Bloomberg|date=January 4, 2019}}</ref>   
  
In September 2018, Byrne told Forbes in an interview that Overstock.com would begin selling bitcoin on its website using the new Bitsy [[wallet]]. Bitsy, which is designed to be easily used by Overstock.com's non tech-savvy customer base, is owned by Medici Ventures.<ref>{{cite web|url=https://www.forbes.com/sites/astanley/2018/09/14/overstock-to-sell-bitcoin-through-its-website-in-2019-through-bitsy-wallet/#77f16a4e6f1a|name=Overstock To Sell Bitcoin Through Its Website In 2019 With Bitsy Wallet|org=Forbes|date=January 4, 2019}}</ref>  
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In September 2018, Byrne told Forbes in an interview that Overstock.com would begin selling bitcoin on its website early the next year using the new Bitsy [[wallet]]. Bitsy, which is designed to be easily used by Overstock.com's non tech-savvy customer base, is owned by Medici Ventures.<ref>{{cite web|url=https://www.forbes.com/sites/astanley/2018/09/14/overstock-to-sell-bitcoin-through-its-website-in-2019-through-bitsy-wallet/#77f16a4e6f1a|name=Overstock To Sell Bitcoin Through Its Website In 2019 With Bitsy Wallet|org=Forbes|date=January 4, 2019}}</ref>  
  
In November 2018 Byrne told the Wall Street Journal that he would like to sell Overstock's retail business, leaving the company with Medici Ventures and TZERO.<ref>{{cite web|url=https://www.wsj.com/articles/overstocks-founder-bets-on-blockchain-not-bedsheets-1542969001|name=Overstock’s Founder Bets on Blockchain, Not Bedsheets|org=Wall Street Journal|date=January 4, 2019}}</ref>  
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In November 2018 Byrne told the Wall Street Journal that he has been planning to sell Overstock's retail business, leaving the company with Medici Ventures and TZERO.<ref>{{cite web|url=https://www.wsj.com/articles/overstocks-founder-bets-on-blockchain-not-bedsheets-1542969001|name=Overstock’s Founder Bets on Blockchain, Not Bedsheets|org=Wall Street Journal|date=January 4, 2019}}</ref>  
  
 
On January 3, 2019, the company announced to its investors that it would pay some of its ongoing business taxes in Ohio through that state's first in the nation crypto-payments service.<ref>{{cite web|url=https://www.coindesk.com/overstock-will-pay-some-of-its-2019-taxes-in-bitcoin|name=Overstock Will Pay Some of Its 2019 Taxes in Bitcoin|org=CoinDesk|date=January 4, 2019}}</ref>  
 
On January 3, 2019, the company announced to its investors that it would pay some of its ongoing business taxes in Ohio through that state's first in the nation crypto-payments service.<ref>{{cite web|url=https://www.coindesk.com/overstock-will-pay-some-of-its-2019-taxes-in-bitcoin|name=Overstock Will Pay Some of Its 2019 Taxes in Bitcoin|org=CoinDesk|date=January 4, 2019}}</ref>  

Revision as of 09:55, 5 January 2019


Overstock.com
Overstock.png
Founded 1999
Headquarters Salt Lake City, Utah
Key People Patrick M. Byrne, Founder and CEO
Employees 1700
Products Online home goods retailer; TZERO and Medici Ventures
Twitter @https://twitter.com/Overstock
LinkedIn Profile
Facebook https://www.facebook.com/overstock
Website https://www.overstock.com
Releases Company News

Under the leadership of its founder, blockchain enthusiast Patrick Byrne, Overstock.com owns and operates TZERO and Medici Ventures in addition to being a tech-focused online retailer. Overstock.com is a publicly traded company whose largest shareholder is Byrne with a 20.2% holding.[1]

Overstock.com was one of the first retailers to accept bitcoin as payment by customers for goods.[2]

With its focus on blockchain technology and bitcoin, Overstock.com shares suffered as the prices for cryptocurrencies receded throughout 2018 losing 21% of their value by August, well before the markets-wide fourth quarter share price rout.[3]

In September 2018, Byrne told Forbes in an interview that Overstock.com would begin selling bitcoin on its website early the next year using the new Bitsy wallet. Bitsy, which is designed to be easily used by Overstock.com's non tech-savvy customer base, is owned by Medici Ventures.[4]

In November 2018 Byrne told the Wall Street Journal that he has been planning to sell Overstock's retail business, leaving the company with Medici Ventures and TZERO.[5]

On January 3, 2019, the company announced to its investors that it would pay some of its ongoing business taxes in Ohio through that state's first in the nation crypto-payments service.[6]


References