| :: |
| Author |
Message |
elgato
Joined: 24 Feb 2005
Posts: 17240
Location: Texas
|
| Posted: Sun Jul 17, 2011 7:38 am Post subject: Overstock.com will shut down its auction site |
|
|
As most retailers and marketers are opening their doors to small third-party sellers, Overstock.com is closing its door to them. It told sellers on Friday it would close the O.co Marketplace on July 21, 2011 (see details in today's EcommerceBytes Newsflash).
Overstock.com rolled out its auction site in the fall of 2004 under the direction of Holly MacDonald-Korth. It cost $6 million to develop, and pitched its auction feedback system as one that used social networking to protect its community of buyers and sellers.
Shortly after Overstock.com launched auctions in 2004, Patrick Bryne told shareholders:
more.. link to news article |
|
| Back to top |
|
Jerryb
Joined: 15 Mar 2009
Posts: 444
|
| Posted: Mon Jul 18, 2011 11:58 pm Post subject: Re: Overstock Abandons Third-Party Seller Marketplace |
|
|
Well about time. The question is of course why did they ever open the auction in the first place. You have to wonder... could any sane sober person..
run an auction as badly as overstock has for so long
and alienate so many fantastic good sellers and buyers for so many years. well RIP is all i can say. |
|
| Back to top |
|
elgato
Joined: 24 Feb 2005
Posts: 17240
Location: Texas
|
| Posted: Tue Jul 19, 2011 12:33 pm Post subject: Overstock.com will shut down its auction site 7/21/11 |
|
|
Related update:
Overstock.com has announced that it is shutting down its marketplace for online buyers and sellers as of Thursday. Overstock, No. 27 in the Internet Retailer Top 500 Guide, gave no reason for the decision and offered few details.
Overstock launched the auction site for buyers and sellers in 2004. Overstock said it stopped accepting listings for the marketplace on Friday and that all activity will cease on Thursday.
“We have stopped the invoicing process to ensure that our sellers are not billed for their current fees. No further invoices will be made,” reads the announcement. Overstock declined further comment
more.. link to news article |
|
| Back to top |
|
kathyscorner
Joined: 28 Apr 2005
Posts: 610
|
| Posted: Wed Jul 20, 2011 5:57 pm Post subject: Re: Overstock.com will shut down its auction site |
|
|
It really ended the day Patrick Byrne lost interest, they should have just shut it down then.
RIP |
|
| Back to top |
|
| |
