SALT LAKE CITY, UT, Nov 21, 2007 -- Just in time for holiday shopping, Overstock.com, Inc. (NASDAQ: OSTK) gives shoppers the option of using PayPal to complete their purchases.
"Overstock.com and PayPal are a solid match," said Overstock.com CEO Patrick Byrne. "With over 164 million accounts worldwide, PayPal`s existing account-base offers Overstock.com millions of loyal, web-savvy online shoppers, while Overstock.com offers PayPal account holders access to great online deals for discount, brand-name merchandise. We`re very pleased with this arrangement."
Since its founding in 1998, PayPal has grown to become a global leader in online payment solutions that allows a safer, easier way to pay for items and services online. With PayPal, Overstock.com customers can now pay for their purchases using debit cards, bank accounts, stored balances, or credit cards through their individual PayPal accounts.
"Our customers have looked forward to PayPal`s addition to our site," Byrne said, "and based on how sharply PayPal use has surged in recent days, it`s clear they`re pleased with the decision."
Byrne noted that in the near future, PayPal users will be offered special coupons for shopping at Overstock.com.
Overstock.com, Inc. is an online "closeout" retailer offering discount, brand-name merchandise for sale over the Internet. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory liquidation 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 is a registered trademark of Overstock.com, Inc. All other trademarks are the property of their respective owners.
PayPal is the safer, easier way to pay and get paid online. The service allows anyone to pay without sharing financial information and gives consumers the flexibility to pay in any way they prefer, including through credit cards, bank accounts or account balances. With more than 164 million accounts in 190 markets and 17 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay company. More information about the company can be found at https://www.paypal.com.
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 the number of new users offered to PayPal and the level of increased online exposure for PayPal, special incentives Overstock.com will offer to PayPal users, as well as all such other risks as identified in our Form 10-K for the year ended December 31, 2006, and all our subsequent filings with the Securities and Exchange Commission, which contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements.