The two firms will become independent publicly traded companies in 2015. The move follows pressure from investor Carl Icahn to spin off the payments ...
About 5% of its sales were to businesses buying inventory to re-sell, so Overstock.com will open a B2B web store.
Overstock.com plans to launch a B2B web site today, according to Patrick Byrne, CEO. The company found that about 5% of its sales were being made to businesses, which prompted Overstock to build the site that will allow businesses to buy overstock merchandise. “We started to see regular purchases from businesses on our site and when we called them up we realized there was a demand to provide to them as well as consumers,” Byrne says.
Overstock.com is an Internet retailer of name-brand surplus and close-out merchandise, that specializes in selling first-quality merchandise at discounts of 40% to 70% across a broad range of categories, including housewares, electronics, sporting goods, travel/leisure products, gifts, toys, and jewelry.