Overstock has announced that it is taking on eBay in the auction space. This is a tall order for anyone–it would be for a company the size of Microsoft–but I don’t want to underestimate Patrick Byrne and the Overstock team because of their passion and drive to succeed. The stock has been doing quite well this year and this announcement shouldn’t hurt.
I believe Overstock CEO Patrick Byrne is speaking at BYU on Friday. I just found out my brother Curt Allen (CEO of Agilix) and my nephew Richard Culatta are also on the program. If you live in Utah, you won’t want to miss BYU’s eBusiness Day.