Overstock.com Announces Launch of its 'Main Street Revolution' Initiative
Initiative to start April 27, 2010
SALT LAKE CITY — Overstock.com, Inc. (NASDAQ: OSTK) today announced the launch of its Main Street Revolution Initiative, a partnership between Overstock.com and small and minority-owned business (SMBs) owners across the United States. This initiative creates a national marketing and distribution channel for producers of consumer products by providing the opportunity to sell their products on Overstock.com and O.biz (our B2B website). To learn how to become a part of the initiative visit www.overstock.com/mainstreet
According to Overstock.com Chairman and CEO Patrick Byrne, "The Main Street Revolution Initiative is designed to increase the visibility of small and minority-owned businesses which currently lack exposure to national markets."
"By joining our network these small businesses can reduce their supply chain costs, and opens their products to a mass audience," Byrne added. "We will work closely with local chambers of commerce and small business administrations across the country to connect with local businesses and kick start the Main Street Revolution Initiative. In the beginning, these businesses' products will simply be posted in their appropriate shopping categories on Overstock.com. Once a critical mass of partners and products has been reached, the products will be consolidated into a 'Main Street' store on Overstock.com. This represents a grand opportunity for producers and consumers nationwide to participate and contribute to the national recovery effort. Main Street can be the engine that lifts us out of the recession that Wall Street created."
Overstock.com, Inc. is an online retailer 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, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com
. Overstock.com regularly posts information about the company and other related matters on its website under the heading "Investor Relations."
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Overstock.com® and O.bizTM and Main Street Revolution InitiativeTM are trademarks of Overstock.com, Inc.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements regarding creation and size of the distribution channel, the potential benefits of the initiative to those participating in the initiative and to the company, and the creation of a 'Main Street' store on the company's web site. Our Form 10-K- for the year ended December 31, 2009, and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.
Overstock.com Public Relations
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