OVERSTOCK AND CHANNELADVISOR EXTEND STRATEGIC ALLIANCE
ChannelAdvisor waives all fees associated with selling via Overstock.com through August 31, 2011
Research Triangle Park, NC– February 19, 2008 – ChannelAdvisor, the leading provider of e-commerce channel management solutions, announced today that it has extended its strategic alliance with Overstock.com (NASDAQ: OSTK) through August 31, 2011, the popular online discount retailer, to help online retailers and brands leverage Overstock Shopping.
Under this alliance, ChannelAdvisor Complete is fully integrated with Overstock.com, enabling online retailers to list their merchandise and process orders placed on the Overstock.com shopping site from a single interface.
“ChannelAdvisor has proven expertise in helping retailers leverage multi-channel retailing,” says Patrick Byrne, Chief Executive Officer of Overstock.com. “We look forward to expanding our relationship with ChannelAdvisor and thereby providing retailers the perfect marketplace to sell their high-quality, brand name products.”
“ChannelAdvisor is extremely excited about expanding our relationship with Overstock.com, which will continue to allow retailers to expand their multi-channel strategies,” says Scot Wingo, CEO of ChannelAdvisor. “We look forward to working with Overstock.com to drive more gross online merchandise sales across their marketplace.”
In conjunction with this announcement, ChannelAdvisor will waive all ChannelAdvisor fees associated with selling via Overstock.com through August 31, 2011.
Online retailers can learn more about this strategic alliance and how to start selling on Overstock.com at www.channeladvisor.com/overstock.
About ChannelAdvisor Corporation
ChannelAdvisor Corporation provides technology and services that enable leading online retailers to maximize their products across multiple e-commerce marketplaces such as eBay, Amazon.com and Overstock.com, comparison shopping engines such as Shopping.com, Shopzilla, Nextag and Google Product Search and search engines such as Google, Yahoo! and MSN. In 2007, ChannelAdvisor managed over $2.1 billion in gross merchandise value (GMV) on behalf of its customers. ChannelAdvisor solutions combine best practices, on-demand software and integration technology to help retailers sell more products, faster, by automating labor-intensive, manual functions so they spend less time optimizing campaigns and more time solving marketing and business issues. ChannelAdvisor's customers include GSI Commerce, Brookstone, Abebooks and Motorola. ChannelAdvisor Corporation is headquartered in Research Triangle Park, NC with offices in Atlanta, Seattle, the United Kingdom, Australia, Ireland and Germany. For more information, visit http://www.channeladvisor.com/.
About Overstock.com
Overstock.com, Inc. is an online “closeout” retailer offering discount, brand-name merchandise for sale over the Internet. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory liquidation distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com.
Overstock.com® is a registered trademark of Overstock.com, Inc. All other marks are the marks of their respective owners.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements regarding an expansion of the relationship with ChannelAdvisor and the effect of the ChannelAdvisor Complete product on providing a perfect marketplace for product sales. Our Form 10-K for the year ended December 31, 2006, our subsequent quarterly reports on Form 10-Q, and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.
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