Overstock Buys 3 Domains & 3 Social Net Handles For 150 Bitcoins

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Exclusive to TheDomains.com:

Overstock bought three domain names and three social media handles for 150 bitcoins, in December 2014, which at the time were valued at $50,000 ($380 per BTC) from Anonymous Media LLC. which is a/k/a Dotted.in

Overstock bought the domain names O.ly,  O.vu and  O.cr as well as the social networking handles of  twitter.com/O; vimeo.com/O and O.tumblr.com for 150 Bitcoins.

Bitcoin is presently trading down around 40% from where it was in December 2014 at $233 down from $380.

Although the transaction occurred in December, thedomains.com only received a copy of the contract yesterday.

Overstock was one of the first large US online retailers to start accepting Bitcoin earlier in 2014 

It’s a very interesting move since Overstock blamed its move from Overstock.com to O.co outside of the United States for a lot of confusion back in 2011 and a decline of profits.

However now it seems Overstock.com has spent more of its shareholders money acquiring three domains names and three social media handles.

I’m sure it will bring no joy its shareholders that we note that none of the three domain names Overstock purchased in December resolve and the Twitter handle they purchased only has one Tweet since the  acquisition telling people to go to Overstock.com:

overstocktwitter

 

Before you go too crazy blaming Overstock for wasting money,  consider that 2 of the 4 .Co domain names Amazon bought in 2011 k.co and z.co are still not resolving.

About Michael Berkens

Michael Berkens, Esq. is the founder and Editor-in-Chief of TheDomains.com. Michael is also the co-founder of Worldwide Media Inc. which sold around 70K domain to Godaddy.com in December 2015 and now owns around 8K domain names . Michael was also one of the 5 Judges selected for the the Verisign 30th Anniversary .Com contest.

Comments

  1. Nick says

    “…as well as the social networking handles of twitter.com/O…”

    Which, actually, violates Twitter’s TOS.

  3. Suds says

    I just emailed this article to a buddy of mine who reports to one of the top 5 exec’s at twitter…stay tuned…

    • Domain Shame says

      I am sure Overstock is worried. Twitter not going to mess with a large company. Several handles have been sold. Twitter management got much bigger things on their plate like growing userbase.

      • Lara says

        @Judd:

        Could you please shed more light onto this. What was more of the value to the company: the short domain names of the cool social handles.

        If the former, how will Overstock use them?

        Thank you!

  4. DNSal.es says

    Before you go too crazy blaming Overstock for wasting money, consider that 2 of the 4 .Co domain names Amazon bought in 2011 k.co and z.co are still not resolving.

    What, but none of the acquired o.ly, o.vu and o.cr are resolving either.

    • DNSal.es says

      So considering the domain names are not used (at least yet) the good chunk of the price paid for for the social media handles. I bet their lawyers have it covered nicely to comply with all relevant t&cs.

  5. Lara says

    150*$380 is $57k. Nearly $10k for each of the assets. Also Facebook does not allow me to use O.LY in the post. Was probably banned before. Overstock will need to clear that too, if they ever get to that point.