In the world of e-commerce, one of the largest players is Amazon. This Seattle-based company has become a major player in the global marketplace and a household name. But few people are aware that Amazon also owns a number of other companies, one of which is Overstock.com.
Overstock.com was founded in 1999 by Patrick M. Byrne as an online retailer specializing in overstocked items from manufacturers and wholesalers. It quickly became one of the first major online retailers to offer discounted merchandise to consumers, and today it has grown to become one of the top 10 largest e-commerce websites in the US.
The company was acquired by Amazon in August 2017 for an undisclosed sum, although some reports have suggested it was for up to $250 million. Since then, Overstock has been fully integrated into Amazon’s operations and now operates under the Amazon umbrella.
Initially, Overstock continued to operate independently from its parent company with its own branding and website. However, in recent years Amazon has begun integrating some of its services into Overstock’s operations such as Prime membership benefits and free shipping. This integration allows customers to make purchases from both sites with just one account.
Conclusion:
Is Overstock owned by Amazon? Yes, it is! In 2017, Amazon acquired Overstock for an undisclosed sum and since then it has been fully integrated into Amazon’s operations.
9 Related Question Answers Found
Amazon and Overstock have been compared to each other for many years. Amazon is the world’s largest online retailer, while Overstock is a smaller, but still popular, online retailer. The two companies have different business models and serve different markets, so it’s no surprise that they are often compared to one another.
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