Overstock.com is building a new website called O.BIZ where businesses and customers can buy bulk merchandise. The site, set to launch on October 31, 2009, is designed to give small businesses and customers the opportunity to buy large quantities at deep discounts. The new site will have a similar look and feel to Overstock.com and will be supported by its customer support team.
Overstock.com Chairman and CEO Patrick Byrne said, "The .BIZ extension is appealing to growing, innovative businesses. Our goal is to have O.BIZ help small to medium-size businesses save money by leveraging the purchasing power of Overstock.com."
The company said O.BIZ is not an auction site, but said third-party sellers would be able to sell there. It will be just like Overstock.com except it will initially focus on restaurant, office, and hotel products in bulk quantities, according to a company spokesperson.
Overstock.com, which had launched a reseller marketplace for wholesale merchandise in a pilot program in 2005, if facing competition as other marketplaces move into the discount and overstock space.
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