Overstock invests in future of Irish R&D centre
Company on track to make its 100th hire before year end
E-commerce, machine learning, and blockchain focus of its work
E-commerce and technology leader Overstock.com, Inc. (NASDAQ:OSTK) has opened its new European base in the IDA’s flagship North West business park in Sligo, and revealed it is on track to make its 100th Irish hire before year end.
The company last year announced the creation of 100 new technology jobs including senior roles in areas such as software development and testing, machine learning, and data analytics.
It now has more than 80 technologists working in Sligo and is on target to recruit another 20 staff before the end of the year. The company has been successful in underlining the affordable cost of living and lifestyle options in the North West along with attractive career progression opportunities.
Overstock has invested €1 million in making the move to the Westgate tech campus in the IDA’s business park in Finisklin, Sligo town.
The new facility was officially opened by Leo Clancy, Head of Technology for IDA Ireland with Overstock’s President of Retail Dave Nielsen, Chief Administrative Officer Carter Lee, and Irish-based Vice-president and Site Lead David Kenny.
Commenting, David Kenny, Overstock Vice-president and Site Lead, said:
“We’re absolutely delighted with our new home and getting all our teams back under one roof. It further validates Overstock’s choice of the North West as a great place to do business and build high performance software development teams. The combination of a diverse career path, a cutting edge tech environment and a great work life balance has really resonated with the techies who continue to join our growing team.”
Overstock CEO Jonathan Johnson said:
“When we opened our Ireland office in 2013, we knew there was something special with the tech environment of Sligo. Our Irish team has been instrumental in many of our technological innovations over the years, including advancements in machine learning, augmented reality, and blockchain applications. It’s great to open the doors to a new campus the team can grow and call home.”
Welcoming the new expansion by Overstock, the Minister for Business, Enterprise and Innovation, Heather Humphreys TD said:
“I am delighted to congratulate Overstock on the opening of their new facility in Sligo. Their presence here is a significant boost the region, and demonstrates, once again, that we have the right skills and talent to attract quality companies. I wish Overstock well in their new home and look forward to their continued success in the future”.
Leo Clancy, Global Head of Technology, Consumer, Business Services in IDA Ireland welcomed Overstock’s move into the Westgate building and its success in attracting technology talent to the North West.
He said: “IDA Ireland focuses on winning investments all across Ireland and the North West has a huge amount to offer companies. It is great to see an online leader like Overstock investing in Sligo and creating very highly skilled technology roles. This expansion clearly illustrates the talented workforce available here and we really value the significant investment and continued partnership with Overstock.”
Overstock is a billion-dollar online retail shopping site and technology company founded in 1999 in Utah. In 2014, Overstock founded Medici Ventures its wholly-owned blockchain subsidiary focused on introducing blockchain technology to existing markets to democratize capital, eliminate middlemen, and re-humanize commerce.
For job opportunities in Sligo, Ireland, visit Overstock’s career page.
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Another incredible milestone for us here in #Overstock. Massive thank you to all who joined our official ribbon cutting celebrations and to the dedication of all those involved, especially to our wonderful team. Now, time to settle in!#NewOffice #Proud #SiliconSligo #WeAreHiring pic.twitter.com/uTalXl12ju— Overstock Ireland (@OstkIreland) October 10, 2019
Overstock.com, Inc Common Shares (NASDAQ:OSTK) / Digital Voting Series A-1 Preferred Stock (Medici Ventures’ tZERO platform:OSTKO) / Series B Preferred (OTCQX:OSTBP) is an online retailer and technology company based in Salt Lake City, Utah. Its leading e-commerce website sells a broad range of new products at low prices, including furniture, décor, rugs, bedding, home improvement, and more. The online shopping site, which is visited by nearly 40 million customers a month, also features a marketplace providing customers access to millions of products from third-party sellers. Overstock was the first major retailer to accept cryptocurrency in 2014, and in the same year founded Medici Ventures, its wholly owned subsidiary developing and accelerating blockchain technologies to democratize capital, eliminate middlemen, and re-humanize commerce. Overstock regularly posts information about the company and other related matters on the Newsroom and Investor Relations pages on its website, Overstock.com.
O, Overstock.com, O.com, Club O, Main Street Revolution, and Worldstock are registered trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property 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 all statements other than statements of historical fact including but not limited to our expectations regarding personalization technology. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Form 10-Q for the quarter ended June 30, 2019, which was filed with the SEC on August 8, 2019, and any subsequent filings with the SEC.
SOURCE: Overstock.com, Inc.