{"id":4705,"date":"2015-01-26T10:30:28","date_gmt":"2015-01-26T10:30:28","guid":{"rendered":"http:\/\/newsroom.chainstoreguide.com\/?p=4705"},"modified":"2015-01-26T10:30:28","modified_gmt":"2015-01-26T10:30:28","slug":"company-snapshot-overstock-com","status":"publish","type":"post","link":"https:\/\/www.chainstoreguide.com\/offthechain\/2015\/01\/company-snapshot-overstock-com\/","title":{"rendered":"Company Snapshot: Overstock.com"},"content":{"rendered":"

Address:<\/strong>
\n6350 S 3000 E
\nSte 100
\nSalt Lake City, UT 84121<\/p>\n

Telephone:<\/strong>
\n801 947-3100<\/p>\n

Internet Homepage:<\/strong>
\nwww.overstock.com<\/p>\n

Year Founded:<\/strong>
\n1999<\/p>\n

Total Annual Sales:<\/strong>
\n$1,304,217,000<\/p>\n

Senior Executives:<\/strong>
\nDr. Patrick M. Byrne: CEO
\nJonathan E. Johnson III: Chairman of the Board of Directors
\nStormy D Simon: President
\nDavid J. Nielsen: Senior VP, Business Development<\/p>\n

 <\/p>\n

Last year at this time, the Overstock board issued a statement that company founder, Chairman and CEO, Dr. Patrick M. Byrne, \u201cwill be taking a personal leave of absence for medical reasons. \u00a0Overstock.com President Jonathan Johnson will serve as Acting CEO during Dr. Byrne’s leave of absence.\u00a0 Dr. Byrne will remain Chairman of the Board.\u201d<\/p>\n

The notice sent a shudder through the investment community.\u00a0 Also noted, was the temporary creation of a co-presidency, to be held by Stormy Simon and David Nielsen.<\/p>\n

Now Dr. Byrne is back and running his company in full force as CEO. \u00a0Mr. Johnson currently serves as Chairman of the Board of Directors. \u00a0Stormy Simon remains President as David Nielsen returns to his position as Senior VP, Business Development.<\/p>\n

Lately the company has been very busy indeed.\u00a0 In October, the company declared a return to its roots as an online liquidation pioneer, as it purchased the entire inventory of online jewelry company Bidz.com, out of foreclosure.\u00a0 The retail value of the acquired jewelry was estimated at $89 million.\u00a0 President Stormy Simon stated that the company is actively seeking such deals, much as Dr. Byrne had as he started the company as the new millennium approached.<\/p>\n

A week later the company essentially commenced a price war with Amazon.com as Overstock issued a press release stating that book prices across its site are actually lower than Amazon’s. Additionally, members of Overstock’s Club O loyalty program would receive 15 percent back in reward dollars on every book purchase through the month ending on Cyber Monday.<\/p>\n

Just a few days ago Overstock announced an initiative aimed at promoting mainstream adoption of digital currencies like Bitcoin.\u00a0 Thus the retailer installed a Bitcoin ATM at its corporate headquarters in Salt Lake City.\u00a0 The ATM is accessible 24\/7 and allows the public to convert U.S. dollars to Bitcoin, and Bitcoin to U.S. dollars.<\/p>\n

It seems that Dr. Byrne is back from his personal leave with a passion, a passion that saw his company through the Internet bubble, at its creation.<\/p>\n","protected":false},"excerpt":{"rendered":"

Address: 6350 S 3000 E Ste 100 Salt Lake City, UT 84121 Telephone: 801 947-3100 Internet Homepage: www.overstock.com Year Founded: 1999 Total Annual Sales: $1,304,217,000 Senior Executives: Dr. Patrick M. Byrne: CEO Jonathan E. Johnson III: Chairman of the Board of Directors Stormy D Simon: President David J. Nielsen: Senior VP, Business Development   Last… Continue reading Company Snapshot: Overstock.com<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"post-template-no-sidebar.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[15],"class_list":["post-4705","post","type-post","status-publish","format-standard","hentry","category-discount-specialty","tag-snapshot","entry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts\/4705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/comments?post=4705"}],"version-history":[{"count":0,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts\/4705\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/media?parent=4705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/categories?post=4705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/tags?post=4705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}