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Fast Facts
Overstock kicks off its first multi-day mega sale, the “O’ Days Anniversary Event,” from April 24–28.
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Beyond Inc. introduces ‘O’ Digital Token, a tokenized security linked to Overstock IP with annual dividend potential.
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Crowdfunding goal set between $250K and $1.2M to support token launch via tZero platform and build investor community.
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Overstock sale includes up to 75% off select items, plus additional discounts on rugs, jewelry, furniture, and luxury brands.
Murray, Utah – Overstock parent Beyond Inc. kicked off a pair of initiatives today for its Overstock subsidiary – one for bargain hunters and the other for digital asset investors.
In addition to launching Overstock’s first multi-day mega sales event this morning, the retail company announced its first crowdfunding offering of a tokenized digital security linked to Overstock intellectual property.
The offering, which is being handled by Beyond Inc.’s Commercial Strategies subsidiary, is designed to pay an annual dividend.
“This will also support and demonstrate the efficacy of the tZero platform, a company where Beyond owns a very significant interest. The ‘O’ Digital Token will also offer its investors a way to participate in Overstock brand’s growth and create a community to belong to,” explained Marcus Lemonis, Beyond Inc. executive chairman and principal executive officer.
Commercial Strategies is seeking to raise at least $250,000 by Oct. 15, with a maximum offering amount of $1.2 million to increase Commercial Strategies’ capitalization and financial flexibility, create a market for its tokenized digital securities, and increase awareness of the Overstock brand.
Holders of Beyond common stock will be able to take advantage of preferred subscription pricing of $5.00 per share. The price of the shares for all other investors is $10.00 per share. The holders of the shares will be entitled to receive an annual pro rata dividend derived from 1% of the net sales from Overstock.com, subject to lawful ability to pay and if declared.
Details related to the offering are available at prim.overstock.tzero.com.
For consumers seeking more immediate gratification, Overstock is taking a page from Amazon Prime and Wayfair with the retail banner’s first multi-day sale offering deep discounts on selected merchandise.
The ‘O’ Days Anniversary Event commemorates Overstock’s founding in the spring of 1999 and runs from April 24-28.
“This is the broadest and deepest sale we’ve had in years at Overstock, and we are beyond excited to offer our customers these deals on their favorite legacy categories,” said Lemonis.
As part of the event’s catch phrase to “save likes it’s 1999!,” special offers include:
- Thousands of products up to 75% off with Flash Price Drops
- Additional 25% off select rugs for 5 days only
- Additional 20% off select jewelry for 5 days only
- Additional 15% off select mattresses for 5 days only
- Additional 10% off select furniture – including patio – for 5 days only
- Up to 55% off select designer luxury items, including the Burberry Flash Sale
“These are the kinds of deals that don’t come around every day – and bringing them all together in one event is something we’re immensely excited about,” said Lemonis.
Beyond Inc. is also the parent of Bed Bath & Beyond, buybuy Baby, and other related brands and websites. The company will report its Q1 results on Monday, April 28.