Beyond, Inc. (NYSE:BYON) Company Profile
Beyond, Inc. (NYSE:BYON), formerly known as Overstock.com, Inc., was founded in 1997 and renamed in November 2023. Operating under the Bed Bath & Beyond brand, it is an online retailer of furniture and home goods in the United States, and has been continuously developing through acquisitions and business expansions.
I. Company Introduction
Beyond, Inc. was founded in 1997, with its headquarters located in Midvale, Utah, and it has 830 full-time employees. Formerly known as Overstock.com, Inc., after acquiring the name and trademarks of the bankrupt retailer Bed Bath & Beyond in 2023, it was renamed Beyond, Inc. It conducts online retail business of furniture and home goods under the brands of Bed Bath & Beyond and Bed Bath & Beyond Canada.
Official Website: https://beyond.com/
II. Main Business Segments
1. Online Retail Business: Through the internet websites bedbathandbeyond.com, bedbathandbeyond.ca, and overstockgovernment.com, it offers a wide range of products including furniture, bedding, bath products, patio and outdoor items, area rugs, tabletop and cookware, decor, storage and organization, small appliances, home improvement, etc.
2. Platform Service Business: It promotes products or services for enterprises on its website; provides the Marketplace service, allowing partners to sell products through third-party websites; delivers products to international customers with the help of third-party logistics providers; through Supplier Oasis, enables partners to manage products, inventory, and sales channels through a single integration point and obtain multi-channel fulfillment services.
III. Technological and Business Advantages
1. Brand and Market Recognition: By acquiring and continuing to use the well-known brand Bed Bath & Beyond, it has a certain degree of market recognition, which can attract the loyal customer base of the original brand and secure a place in the online retail field of furniture and home goods.
2. Diversified Business Model: In addition to traditional online retail, it provides various platform services, which increases the sources of business revenue, meets the cooperation needs of different enterprises, and expands the business ecosystem.
3. Internet Channel Advantage: By conducting business through multiple internet websites, it adapts to the development trend of e-commerce, can reach a wide range of consumer groups, and improve the scope and efficiency of sales.
IV. Development History
| Time | Key Events |
|---|---|
| May 5, 1997 | The company was founded as D2: Discounts Direct, later went bankrupt, and was acquired by Patrick M. Byrne and Jason Lindsey and renamed Overstock.com. Initially, it specialized in selling overstock and returned items. |
| 2001 | The Worldstock department was established to showcase the works of artisans from around the world. |
| May 2002 | Conducted an initial public offering (IPO) at $13 per share, and Amazon exited its investment during the IPO. |
| 2004 | Began to provide the online auction service Overstock.comMarketplace, which was later renamed O.co Marketplace and discontinued in July 2011. |
| July 2006 | John J. Byrne, the father of Overstock's CEO, resigned from the board of directors due to dissatisfaction with his son's opposition to naked short selling and rejoined the board in 2010. |
| Early 2007 | John A. Fisher and Ray Groves resigned from the board of directors due to differences in opinions on the company's major broker litigation. |
| January 2, 2008 | Co-founder Jason Lindsey resigned from his positions as president, chief operating officer, and director. |
| 2009 | Achieved a profit of $7.7 million. |
| 2010 | Reported its first annual sales reaching $1 billion. |
| 2011 | Revenue decreased by 5% due to Google's penalty, and it underwent a rebranding as “O.co”, which was later interrupted due to consumer confusion; acquired the naming rights of the former Oakland-Alameda County Stadium, and the stadium was renamed along with the company's brand later. |
| 2013 | Pushed for increased immigration, stating that it was difficult to recruit computer programmers and software developers. |
| 2014 | Began to develop software for the online distribution of company stocks; on January 9, it became the first major retailer to accept Bitcoin payments, and Bitcoin sales averaged $300,000 per month in the middle of 2014. |
| August 22, 2019 | CEO Patrick Byrne resigned, and Jonathan E. Johnson became the CEO; announced the distribution of digital dividends. |
| June 2023 | Won the bid for Bed Bath & Beyond's intellectual property assets for $21.5 million and announced on June 29 that it would be renamed Bed Bath & Beyond. |
| October 24, 2023 | Announced that the company name Overstock.com, Inc. would be changed to Beyond, Inc., effective November 6, and the stock code would be changed. |
| November 19, 2023 | Investor JAT Capital, which owns nearly 10% of Beyond (BYON) shares, requested that Marcus Lemonis, CEO of Camping World, take a leadership position. |
| March 7, 2024 | Acquired the intellectual property and other brand assets of e-commerce retailer Zulily for $4.5 million. |
| February 24, 2025 | Completed the transaction with BBBY and acquired the global rights to the Buy Buy Baby brand. |
| March 18, 2025 | Agreed to sell the majority stake in the Zulily brand to Lyons Trading, receiving $5 million and retaining a 25% stake. |
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