Overstock.com Licenses Net Perceptions` Patented E-commerce Personalization Technology From Tornago Systems
SALT LAKE CITY, July 19, 2005 -- As part of an ongoing initiative to build stronger relationships with its customers, popular online discount retailer Overstock.com(R) (Nasdaq: OSTK) today announced that it has licensed Net Perceptions` NetP 7 software from Tornago Systems.
NetP 7 is proven, patented e-commerce personalization technology that, through advanced analytics, will enable Overstock.com to offer its customers a more customized shopping experience. The technology can be used, for example, to provide highly personalized product recommendations based on an individual shopper`s purchasing patterns.
"Advanced personalization is a key component of our strategy to offer the best values on everything consumers buy, along with the best possible service," said Overstock.com`s senior vice president of technology, Shawn Schwegman. "We chose the NetP 7 software because Net Perceptions has proven, patented technology that is widely used by major retailers throughout the online retailing industry. We`re leveraging Tornago`s experience with the Net Perceptions software and expertise in e-commerce personalization to deliver an outstanding shopping experience to our customers."
About 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 National Market System and can be found online at http://www.overstock.com.
About Tornago Systems
Tornago Systems is a business analytics consulting firm and reseller of the Net Perceptions` NetP 7 product line. The company specializes in personalization solutions for web, call center, and direct marketing channels. Tornago Systems is based in Minneapolis. For more information see http://www.tornago.com.
Overstock.com is a registered trademark of Overstock.com, Inc. All other trademarks are the property of their respective companies.
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 features and capabilities of the technology, the ability of Overstock to offer a personalized shopping experience and such other risks as identified in our Form 10-K for the year ended December 31, 2004, 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.
CONTACT:
Media:
Scott Blevins
+1-801-947-3133
sblevins@overstock.com
Investors:
Kevin Moon
+1-801-947-3282
kmoon@overstock.com
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