Overstock.com is an internet retailer and Sears Marketplace seller headquartered in Utah, near Salt Lake City. The company was founded in 1997 and launched in May 1999. Overstock.com initially sold exclusively surplus and returned merchandise on an online e-commerce marketplace, liquidating the inventories of at least 18 failed dot-com companies at below-wholesale prices.
In the spring of 1999, Dr. Patrick M. Byrne recognized the potential in liquidating excess inventory through the Internet. Up until then, consumers had relied on crowded outlet centers with limited product selection. Their mission was to become the premier company selling excess inventory through the internet.
The company started out as D2-Discount Direct and sold excess inventory from different sources at a discounted price. Overstock started by conducting its sales in two different ways, the Direct resale was where the company acquired excessive inventory and sold in on an e-commerce platform and the Indirect resale where the company sold excessive inventory stock from on behalf of other retailers. In May 2002, the company went public. After the IPO, Overstock started to earn a name for itself as a trusted e-retailer. By 2010, the company had earned its 1st billion dollars. Overstock is a successful company and was ranked #2 in US for Customer service by the National Retail Federation and Forbes listed it as one of the ten best places to work in America.
Overstock is a trusted and valued Sears Marketplace partner, selling thousands of items thru our Marketplace. They rejoined Sears after a brief absence earlier this year and quickly gained a foothold in the competitive categories of Bed Bath & Home, Appliances, Fitness & Sports and Lawn & Garden. They continue to be an innovative partner bringing a broad selection, sharp pricing and fast fulfillment to Sears Marketplace.