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Overstock is officially pivoting to blockchain

sudshr47 November 23, 2018

Overstock is getting out of ecommerce.

One of the internet’s earliest online retailers, Overstock, is preparing to sell off its entire ecommerce business in February according to its founder and CEO Patrick Byrne.

Overstock’s future? Cryptocurrency and blockchain startups.

Speaking to the Wall Street Journal, Byrne detailed his Overstock sale plans and discussed the company’s $175 million investment so far into its subsidiary Medici Ventures, which backs blockchain startups.

Overstock was founded in 1999 and initially focused on selling surplus, returned, and liquidated merchandise of all types. As of today, the company’s ecommerce focus has shifted to home decor, bedding, kitchen appliances, and jewelry. Read more…

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Minds, the blockchain-based social network, grabs a $6M Series A

sudshr47 October 22, 2018 Startups

Minds, a decentralized social network, has raised $6 million in Series A funding from Medici Ventures, Overstock.com’s venture arm. Overstock CEO Patrick Byrne will join the Minds Board of Directors. What is a decentralized social network? The creators, who originally crowdfunded their product, see it as an anti-surveillance, anti-censorship, and anti-“big tech” platform that ensures […]

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Overstock is having a huge home sale: Save on Safavieh area rugs, lighting, furniture, and more

sudshr47 August 2, 2018

With summer coming to a close faster than you may like, Overstock has launched a massive sale on products for the home, living room, dining room, garden and patio. If you’re about to start school or need to set up a new home, Overstock has something …

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Overstock’s CEO launches new trading platform and token, tZero

sudshr47 December 19, 2017 Startups

Few mainstream business leaders have taken to the blockchain quite like Patrick Byrne. The founder of Overstock.com has been accepting Bitcoin since 2014 and has been talking about disrupting the payments world with transparent, low-cost, and san…