时间:2025-04-26 13:31:19 来源:网络整理编辑:焦點
Overstock is getting out of ecommerce.One of the internet’s earliest online retailers, Oversto
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.
SEE ALSO:Crypto's black Wednesday: Where do we go from here?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.
The company has been known for attention-bringing stunts like its short-lived 2011 rebranding of Overstock to ‘O.co’. In 2014, Overstock became the first major retail store to accept Bitcoin as payment for its merchandise. While the company admitted Bitcoin transactions largely dropped off after the initial announcement, CNBC points outthat the ups-and-downs of the company’s stock have seemingly correlated with the rise and fall of the price of Bitcoin.
So far this year Overstock has lost $163 million. Its investment in Medici hasn’t paid off either, with the subsidiary losing $22 million last year and $39 million so far this year. Making matters worse, Medici’s most well-known investment, tZero, a trading system startup, still has yet to launch to the public.
Byrne doesn’t seem bothered by any of this.
"I don't care whether tZero is losing $2 million a month," said the Overstock founder and CEO to the Journal. "We think we've got cold fusion on the blockchain side."
By selling off the business that built Overstock and fully pivot to the blockchain, Byrne’s proving that this is no stunt.
TopicsBitcoinCryptocurrency
One of the most controversial power struggles in media comes to a close2025-04-26 13:30
晉級四強!國米意杯完勝 魔鬼賽程中重回勝利軌道2025-04-26 13:05
10日賠率:利物浦主場迎大勝 阿森納不敗尤文晉級2025-04-26 12:50
探訪女足上海集訓地 :海鮮管夠 男足能吃到的女足也能吃到2025-04-26 12:38
Olympian celebrates by ordering an intimidating amount of McDonald's2025-04-26 12:38
亞足聯盛讚張琳豔:夢想成真 最炙手可熱的年輕天才2025-04-26 12:04
巴黎前瞻 :複仇賽季首敗冤家 或為歐冠戰皇馬留力2025-04-26 12:04
利物浦前瞻:全員浦出戰藍狐 若塔薩拉赫衝裏程碑2025-04-26 12:00
Airbnb activates disaster response site for Louisiana flooding2025-04-26 11:42
中超新軍接近簽下三外援 內援也有高質量球員加盟2025-04-26 11:08
Honda's all2025-04-26 13:17
10日賠率:利物浦主場迎大勝 阿森納不敗尤文晉級2025-04-26 12:45
津門虎禁令官司與喬納森有關 本已簽約新外援加盟或受影響2025-04-26 12:40
巴薩引援計劃曝光!全力追哈蘭德 5目標中3人免簽2025-04-26 12:38
Olympics official on Rio's green diving pool: 'Chemistry is not an exact science'2025-04-26 12:38
西人主席:既然我們贏了皇馬 為什麽不再贏巴薩呢 ?2025-04-26 12:13
單身明誌?尤文新援與18歲女星分手 因想專心踢球2025-04-26 11:53
轉會專家:天津津門虎遭FIFA處罰 即日起不能再注冊新球員2025-04-26 11:31
Felix the cat just raised £5000 for charity because she's the hero we all need2025-04-26 11:29
記者 :中超欠薪短時間解決不了 足協或再放寬準入2025-04-26 11:29