In today's news Overstock has issued 2.7 Million shares of common stock to raise $40 Million. Within the SEC filings form FWP Overstock has disclosed several factors which appear quite interesting.
Overstock will be adding two additional Tabs to it's main site including both a Social Media Tab and Automotive Tab.
According to the form the Social Media Tab will allow " users who share common interests can collaborate with other users to author articles about their interests", while the Automotive Tab will "show automobiles for sale by car dealers and allow users to express offers on those automobiles through our website to the dealers".
Both tabs will become active some time between December 20th and December 30th.
The addition of these tabs will in effect bring Overstock more in line with eBay Motors, eBay Wiki, and eBay Reviews and Guides. Will Overstock take eBay's lead and use these additions to generate traffic to their auctions platform through relevant links, or will the additions simply be used as independent parts of the whole Overstock Brand?
While Overstock has plenty of talented staff at it's disposal, it appears Overstock is unable to create a niche of it's own! Perhaps Overstock should begin to listen to many of the long time site users who have a niche within the marketplace.
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Turns out that the director of social media at Overstock is an anti-abortion demagogue. This will not sit well with the company's mostly female clientele.
He once likened abortion to "slavery." See
http://tinyurl.com/trpul
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