In its second-largest acquisition, Amazon buys the company for $970 million.
The retailer will shut down its auction site on Thursday.
Overstock.com has announced that it is shutting down its marketplace for online buyers and sellers as of Thursday. Overstock, No. 27 in the Internet Retailer Top 500 Guide, gave no reason for the decision and offered few details.
Overstock launched the auction site for buyers and sellers in 2004. Overstock said it stopped accepting listings for the marketplace on Friday and that all activity will cease on Thursday.
“We have stopped the invoicing process to ensure that our sellers are not billed for their current fees. No further invoices will be made,” reads the announcement. Overstock declined further comment
Last month, Overstock said it would shut down its Eziba.com private-sale site after nearly a year of operation, saying the site was a disappointment in terms of customer acquisition.