Small Business Startup News
Overstock.com Launches Partnership With U.S. Small Businesses
Written by Jenna Weiner
Published: 4/29/2010
Overstock.com has launched its "Main Street Revolution" initiative to help small businesses.
Overstock.com has announced the launch of a partnership with small and minority-owned business owners across the United States.
The initiative, known as the Main Street Revolution, creates a nationwide marketing and distribution channel for makers of consumer products. The new channel will allow partners to sell their products on Overstock.com and O.biz, the company's B2B site.
Chairman and CEO Patrick Byrne said Main Street Revolution "is designed to increase the visibility of small and minority-owned businesses, which currently lack exposure to national markets." The announcement should come as encouraging news for small businesses, which Byrne said will be able to "reduce their supply chain costs and open their products to a mass audience."
Overstock.com will be working with local chambers of commerce and small business administrations, Byrne said. He explained that small business products will initially be posted to the company's website, but eventually an entire "Main Street" store will be introduced.
Earlier this year, Overstock.com reported its first annual profit. According to the Associated Press, the company saw a narrow gain of $7.7 million in 2009. Overstock's shares rose more than 30 percent following the announcement.
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