PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
Overstock.com has appointed Holly MacDonald-Korth to a new position as vice president of auctions. She has served as marketing director, marketing analyst and software engineer.
Overstock.com, which launched p2p auctions on its site last week, has appointed to a new position as vice president of auctions the individual who spearheaded their development. Holly MacDonald-Korth will oversee Overstock Auctions’ daily functions, including participating in the auction network community, managing relationships with sellers and continuing to build out auction functionality, Overstock.com has announced.
In her four years with Overstock.com, MacDonald-Korth has previously held the positions of director of marketing, software engineer and marketing analyst. Prior to joining Overstock, she was a financial analyst for the Federal Reserve Board of Governors in Washington, D.C.
“Holly is the reason we were able to launch auctions so quickly and successfully,” says Overstock CEO Patrick Byrne, who notes that Overstock developed and launched its auction offering within nine months. “Her leadership skills and drive will be an invaluable asset to out executive team.”
Accessible through a new auctions tab on the site, Overstock’s auction marketplace features listing fees it says are 30% lower than eBay’s and it offers fee discounts on volume listings. Overstock auctions also incorporate a twist on social networking, with the new auction page offering users the opportunity to build personal networks from the site. Every auction transaction at Overstock also builds a business network, separate from the individual personal networks, that auction users can check to see how other auction users have rated the seller of an item.
In addition to an on-site promotion that will award $50,000 to the auction user who builds out the largest personal network by the end of October, Overstock, No. 28 in Internet Retailer`s Top 300 Guide to online retailers, will support the launch of Overstock auctions with a radio and TV ad campaign.