Overstock.com Unveils O.co Coliseum
SALT LAKE CITY, June 6, 2011 /PRNewswire/ -- Overstock.com, Inc. (NASDAQ: OSTK) (short cut: O.CO) today announced the unveiling of the O.co Coliseum. The O.co Coliseum signage will make its debut on Tuesday, June 7 when U2 performs in the facility at 7:05 p.m. PT. To learn more visit www.overstock.com/oakland .
"Our customers associate 'O' with Overstock.com, which made the transition to O.co seamless. As a Savings Engine, this is the next step in adding more visibility to our shortcut," said Overstock.com Chairman and CEO Patrick Byrne. "Naming the facility O.co Coliseum demonstrates our commitment to seeing through the execution of the new domain."
In April 2011, Overstock.com announced a six-year deal, in partnership with the Oakland-Alameda County Coliseum Authority that included naming rights to the home of both the NFL Oakland Raiders and the MLB Oakland Athletics.
"The Coliseum Authority is thrilled to have O.co as a corporate partner and placing their name on the building. Authority's goal was to sell its name to a reputable company that does a vast amount of business not only in the Bay Area but also worldwide. We look forward to a strong and healthy partnership for years to come." said Ignacio De La Fuente, Chair of the Oakland-Alameda County Coliseum Authority.
"Overstock.com is clearly at the forefront of digital marketing and their decision to use a .CO domain in such a big way, underscores their willingness to lead the market and to disrupt the status quo," said Juan Diego Calle, CEO of .CO Internet SAS. "With the exponential growth of mobile commerce, where shaving milliseconds means gaining a strategic competitive advantage, customers around the world can now reach the company's products and services quickly and securely by simply typing O.co - the shortest possible URL in the world."
Founded in 1999, Overstock.com employs more than 1,600 people. The company's annual revenue has grown from $1.8 million in 1999 to $1.1 billion in 2010. For the past five years, Overstock.com ranked among the top four retailers in the U.S. for customer service, according to rankings published in the 2011 NRF Foundation/American Express Customer Service Survey, and recently Forbes reported that Overstock ranked first in employee satisfaction among all U.S. retailers and ninth among the best U.S. corporations for whom to work.
.CO Internet S.A.S. is the Registry Operator for the .CO top-level domain. The .CO domain offers individuals and businesses a truly global, recognizable and credible option in branding their online presence. Thanks to leading-edge technology, enhanced security and unprecedented rights protections for brand owners, the .CO domain is poised to become the world's next premier web address. For additional information, please visit www.COinternet.co.
Overstock.com, Inc. (short cut: O.CO) is a Savings Engine offering brand-name merchandise at discount prices. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory 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 and http://www.o.co. Overstock.com regularly posts information about the company and other related matters on its website under the heading "Investor Relations."
Overstock.com(R) is a registered trademark and O.co(TM), O.co Coliseum™, Overstock.com Coliseum(TM) and Savings Engine(TM) are trademarks of Overstock.com, Inc. All other trademarks are the property of their respective owners.
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 use of the O.co domain. Our Form 10-K for the year ended December 31, 2010, our subsequent quarterly reports on Form 10-Q, or any amendments thereto, and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.
SOURCE Overstock.com, Inc.
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