Launched in May 1999, the online retailer Overstock.com, Inc. initially sold surplus and returned merchandise, liquidating the inventories of at least 18 failed dot-com companies at below-wholesale prices. In recent years, it has expanded to sell new merchandise as well.
Part of Overstock.com’s merchandise is purchased by or manufactured specifically for the company. Among their products are handmade goods produced for Overstock by workers in developing nations. The company also manages the inventory supply for other retailers. The company has achieved significant growth and profits in its first 10 years, reporting its first billion-dollar year in 2010.