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|Overstock.com Announces Purchase of O.CO Domain Name|
SALT LAKE CITY, July 20, 2010 /PRNewswire via COMTEX/ --
Overstock.com, Inc. (Nasdaq: OSTK) today announced it has purchased the domain name O.CO from .CO Internet S.A.S, the official .CO domain registry. The new web address will enhance Overstock.com's brand recognition and retention, align with current marketing initiatives, and make it easier for shoppers to find the company's products and services online.
Overstock.com purchased the registration rights to secure the iconic, single-letter domain O.CO and related URLs for $350,000 USD. Once launched, the O.CO website will carry all of the same products and have the same features as Overstock.com.
'The O is such an important and recognizable part of our brand," said Overstock.com Chairman and CEO Patrick Byrne. "In the new era of the Internet, where short and memorable web addresses are critical for capturing the attention of mobile and socially connected Internet users, our O.CO web address will help to reinforce our brand and expand our business among these audiences."
"Overstock.com's purchase of O.CO is an investment in its future, and it also speaks to the confidence they have in the credibility and marketability of the .CO domain," said Juan Diego Calle, CEO of .CO Internet. "As one of the first U.S. public companies to use its .CO domain to build its global brand, Overstock.com is further proof that .CO domain names can create a new world of opportunities for companies and entrepreneurs to brand themselves online."
.CO Internet will showcase the O.CO website, along with other early adopters of .CO domains, at www.Opportunity.co.
.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. is an online retailer 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. 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 of Overstock.com, Inc.
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 timing of the launch and showcasing of the O.CO website, enhancement of the company's brand recognition and customer retention, marketing initiatives, and shoppers' in finding the company's products and services online. Our Form 10-K for the year ended December 31, 2009, 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.