SALT LAKE CITY, Feb. 25, 2020 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK) announced the appointment of Joel Weight as Chief Technology Officer for its leading retail shopping site. Weight is a nine-year veteran of Overstock’s family of companies, most recently serving as Chief Operations Officer at Medici Ventures, Overstock’s wholly owned subsidiary and blockchain accelerator.

“Overstock’s roots began in 1999 as a technology innovator, leveraging the internet to create a convenient shopping experience for customers,” said Jonathan Johnson, CEO of Overstock.com. “Recently, Joel has been among the leaders in developing, integrating, and advancing blockchain in a variety of industries including supply chain, banking, and identity. His leadership and technical know-how have helped grow Medici Ventures’ keiretsu companies from the ground up.”

“We are thrilled to have Joel join the Overstock executive team,” said Dave Nielsen, President of Overstock.com. “Joel’s passion for building cutting-edge technology will help return the company to the innovative e-commerce leader that we have been known for throughout the years.”

“I first joined Overstock because of its history and longevity as a technology innovator in e-commerce,” said Joel Weight, Chief Technology Officer at Overstock. “Now, nearly a decade later, I’m thrilled to rejoin Overstock as CTO and am equally as excited to collaborate with a talented group of technologists in our retail business. I look forward to working together to explore new technologies, build up our existing systems, and continue Overstock’s legacy as an innovator.”

Joel Weight, Chief Technology Officer

As Chief Technology Officer for Overstock.com, Joel Weight is responsible for leading technology functions across Overstock’s retail organization, while also executing and integrating day-to-day website operations with the customer, marketing, digital experience, and merchandising teams.

Joel was previously the Chief Technology Officer of Medici Ventures, Overstock’s wholly owned blockchain accelerator, where he built and maintained multiple world-class blockchain development teams that use agile methodologies to support Medici Ventures’ global keiretsu of companies. At the same time, Joel was responsible for evaluating the technical stack, vision, and personnel of potential additions to the blockchain accelerator’s keiretsu.  Following his time as the company’s CTO, he served as its Chief Operating Officer, where he was responsible for executing day-to-day operations while continuing to drive efficient and sustainable growth for the global blockchain accelerator.

Joel brings more than twenty years of enterprise software architecture, development and growth experience to Overstock, having spent time in those roles for Overstock and other companies including Access Development, SunGard Higher Education and eXegeSys.

Joel received his bachelor’s degree in computer science from the University of Utah.

For more information and updates on Overstock or its subsidiaries, please visit the company’s Newsroom at https://www.overstock.com/newsroom.

For information on career opportunities, visit https://www.overstock.com/careers.

About Overstock.com

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 statements regarding the company’s leadership. 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 September 30, 2019, which was filed with the SEC on November 12, 2019, and any subsequent filings with the SEC.

SOURCE: Overstock.com, Inc.

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