Overstock.com
Company: Overstock.com, Salt Lake City, UT
Company Description: Overstock.com, Inc. (short cut: O.CO) is a Savings Engine offering brand-name merchandise at discount prices. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory distribution channel.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Best Overall Company of the Year - Up to 2,500 Employees
Nomination Title: Overstock.com
Tell the story about what this nominated company achieved since January 1 2010 (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:
Overstock.com, Inc. (short cut: O.CO) is a Savings Engine offering brand-name merchandise at discount prices. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory distribution channel. Overstock.com’s annual revenue has grown from $1.8 million in 1999 to over a billion dollars in 2010. Since January 2010 Overstock.com has received many awards including the top place to work in retail in the nation and one of the top ten places to work in business in general as ranked by glassdoor.com and Forbes, ranked in the top five for the last five years in customer service as ranked by the National Retail Federation and American Express, and sales department of the year. The company recently launched the O.CO domain name for Overstock.com. With the launch of the O.CO, Overstock.com has started the beginning of a rebrand as the “Savings Engine” of the internet. "Over the eleven years we've been in business we've evolved into a savings engine for shoppers. We have become O.CO," said Overstock.com Chairman and CEO Patrick Byrne. "As a lifestyle destination, consumers can find absolutely anything on O.CO whether they are shopping for furniture, bedding, clothing, and jewelry, buying a car or home, and, soon, looking for their next vacation spot."
Since January 2010 Overstock.com has helped small businesses across the U.S.
with the Launch of The Main Street Revolution Store. CEO Patrick Byrne said.
"The Main Street Store creates a national marketing and distribution channel for
small businesses by providing them a way to sell their products easily and
inexpensively. It is also a place where consumers can contribute to the national
recovery by buying products made by entrepreneurs throughout the U.S. It's the
new way to shop local." To date the Main Street Revolution Store has helped over
130 vendors across the U.S. and currently carries over 3500 products.
In August of 2010 Overstock.com launched its new private sales site EZIBA.
Overstock.com has relationships with a large network of suppliers, who are in
search of different avenues to sell product. It was a natural progression for
the “O” to build a private sale site." In September 2010 Worldstock,
Overstock.com socially responsible store for products handcrafted by artisans
from developing nations and rural areas of the USA, celebrated its 9 year
anniversary and has continued to grow and has returned over 60 million dollars
to artisan suppliers around the world. In the last year Overstock.com has
received the following awards: The top place to work in retail in the nation and
one of the top ten places to work in business in general as ranked by
glassdoor.com and Forbes, ranked in the top five for the last five years in
customer service as ranked by the National Retail Federation and American
Express, and sales department of the year.
List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:
http://investors.overstock.com/phoenix.zhtml?c=131091&p=irol-newsArticle&ID=1508416&highlight=
http://investors.overstock.com/phoenix.zhtml?c=131091&p=irol-newsArticle&ID=1503943&highlight=
http://investors.overstock.com/phoenix.zhtml?c=131091&p=irol-newsArticle&ID=1517996&highlight=
http://investors.overstock.com/phoenix.zhtml?c=131091&p=irol-newsArticle&ID=1515136&highlight=
http://investors.overstock.com/phoenix.zhtml?c=131091&p=irol-newsArticle&ID=1535594&highlight=
http://investors.overstock.com/phoenix.zhtml?c=131091&p=irol-newsArticle&ID=1533622&highlight=
http://investors.overstock.com/phoenix.zhtml?c=131091&p=irol-newsArticle&ID=1434663&highlight=
Provide a brief (up to 100 words) biography about the leader of this nominated company:
Patrick Michael Byrne is chairman and CEO of Overstock.com Inc., a Utah-based
internet retailer. Under Patrick’s leadership the company’s annual revenue has
grown from $1.8 million in 1999 to over a billion in 2010. He received a
bachelor’s degree in philosophy and Asian studies from Dartmouth College, a
master’s in philosophy from Cambridge University as a Marshall Scholar, and a
doctorate in philosophy from Stanford University. After surviving cancer, he
cycled across the country four times to raise awareness and record-breaking
funds for cancer research at the Dana Farber Cancer. Patrick also founded over
20 schools internationally that educate more than 6,000 combined students.