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Overstock.com closes its year-old private-sale site after it fails to draw new customers.
Eziba.com is no more. The private-sale site, launched by Overstock.com Inc. in August 2010, will close its virtual doors Friday, its parent more interested in a rebranding effort and unimpressed with Eziba’s ability to pull in new customers.
Overstock would not give details about sales, membership and consumer traffic to Eziba.com, where the daily deals focused on home products and furnishings such as bedding, furniture and decorations; Overstock’s financial filings offer scant information about the site.
“Revenues were OK, but it hadn’t been a huge customer acquisition piece,” says Overstock president Jonathon Johnson. “Most Eziba members were also O.Co shoppers.”
O.Co is the domain that Overstock bought for $350,000 about a year ago, part of a rebranding effort anchored around the letter “O.” Instead of having a separate private-sale operation, Overstock plans to offer special deals to members of its Club O loyalty program, Johnson says.
Eziba was Overstock’s first private-sale site, and though it was introduced not quite a year ago, its origins stretch all the way back to 1999, when Eziba.com launched as an online and catalog-based retailer of hand-crafted home goods, most made by artisans in Third World countries. The retailer went out of business in 2005, and Overstock then bought its inventory, mailing lists and naming rights.
Overstock is No. 27 in the Internet Retailer Top 500 Guide.