Who Owns Overstock?

Robert Brazell founded Deals.com in 1997 as a liquidation marketplace in Salt Lake City. Patrick Byrne acquired it two years later, renamed it Overstock.com, and turned it into one of the internet's first closeout retailers, buying excess inventory from distressed and bankrupt sellers and selling it at deep discounts.

The 2000s were Overstock's defining decade. It floated on NASDAQ in 2002, passed $1 billion in annual revenue by 2007, and pivoted from pure closeout to dropshipping new goods from third-party suppliers. Byrne became a celebrity CEO, famously waging a decade-long campaign against naked short selling on Wall Street.

Controversy eventually ended the Byrne era. A 2019 press release about the "Deep State" triggered regulatory scrutiny, Byrne sold his entire stake, and resigned in August 2019. The company then spent years under CEO Jonathan Johnson focusing on home furnishings, its most profitable category.

The 2023 Bed Bath & Beyond bankruptcy changed everything. Overstock bought the chain's intellectual property for $21.5 million and immediately rebranded the entire company as Bed Bath & Beyond, retiring the Overstock name. It reversed course in March 2025, relaunching Overstock.com as a dedicated closeout site when the Bed Bath & Beyond flag failed to stop revenue declines. The parent company's August 2026 rename to Neighborhood Intelligence left Overstock as one brand in a three-brand portfolio.