The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
Overstock.com, a leading Internet liquidation company, launched OverstockB2B.com, a web site for small business owners to buy volumes of name-brand inventory at deep discounts to the wholesale prices they normally pay.
Internet liquidation site Overstock.com, whose site is geared for consumers looking for online bargains, now has launched a site aimed at small business owners, called OverstockB2B.com. The site allows independent retailers to buy small volumes of goods at deep discounts. Typically, manufacturers unload excess inventory to large discount chains or jobbers who can afford to buy, store and distribute large volume orders. At OverstockB2B.com, retailers select from the same range of merchandise as consumers on Overstock.com, but at steeper discounts which are usually 30% to 40% off the wholesales price. The more customers buy from the site, the bigger discount they receive. Customers pay for discounted shipping, negotiated by Overstock.com with top delivery services.