Overstock.com Moves Forward With Its Token Sale

[BADecker]

Overstock.com Moves Forward With Its Token Sale

Overstock.com, the e-commerce leader that has embraced bitcoin and became the first company to solicit qualified institutional buyers in a digital corporate bond, has announced the subsequent sale period for its tZERO preferred equity tokens. The offering has been extended until 5 p.m. EDT on May 14, 2018.

Overstock.com has begun the subsequent sale period for its tokens after raising $100 million in its pre-sale from strategic purchasers at discounted prices. During the subsequent sale period, purchasers will claim rights to acquire tZERO security tokens, pursuant to Simple Agreements for Future Equity (SAFEs), at a fixed price of $10.00 per token, subject to discounts and other concessions.

Approximately 1,000 purchasers

As of March 1, 2018, tZERO has entered into executed SAFES with about 1,100 purchasers for around $114.6 million of tokens, of which $100.6 million has been funded by the purchasers.

tZERO first commenced its offering on Dec. 18, 2017. With the subsequent sale period, tZERO has issued an amended, private placement offering memorandum that supersedes all prior offering materials. Investors that have executed a SAFE on or prior to March 1, can cancel their SAFE and get a full refund of their investment.

The tZERO security token symbol is expected to be TZRO, while the token is expected to be ERC-20 or an equivalent compliant.

The offering' size is $250 million with the option to upsize to $300 million, should there be sufficient demand.

U.S. investors must be accredited investors to be able to execute SAFEs and participate in the subsequent sale period.

Also read: Overstock.com launches offering of world's first 'cryptosecurity'.

Read more at https://www.ccn.com/overstock-com-moves-forward-token-sale/.

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[aso118]

Overstock is a big name, with a business model rooted in crypto and has been able to attract accredited investors to put in big money. Other ICOs with nothing but a whitepaper backing them will find it difficult to attract such money. They would rather raise money from overseas investors where the ICO regulations are more lax.

[EmmanCryp]

After telegram launched their token, another online marketplace giant is launching their token. But my question is what do they really need this token for?? Every company is launching token without a real life application

[Walrus1]

I don't know if overstock is still planning on selling its retail business to focus solely on blockchain and crypto but the CEO has been saying this for sometime

[Eternu]

This sounds really nice, and I guess this token could be my next investment. It would be wise to research a bit more, but from what I have seen its serious project and I guess it have potential.
But honestly I'm not sure for how long this will go on. New ICO joins crypto world almost every day, there are just too many of them. And what makes me even more amazed, its the numbers of invested money.
Thanks for this information, post again if you find other things about this project.

[ManaMan]

After telegram launched their token, another online marketplace giant is launching their token. But my question is what do they really need this token for?? Every company is launching token without a real life application

As crypto is the trend now, of course many companies will try to hop on the train to try to earn money. As you see not many ICOs have great product or need their tokens to operate but they do an ICO to earn money and often they raise more than they need. But hey if they can why not? You can't blame these companies for exploiting and for seeing opportunity and jumping to turn profits.

[TheCryptoChaser]

This is awesome news for the community! It's a game changer. Hopefully, the other companies will take some steps further to accepting or using cryptocurrencies soon. Thanks for sharing this news with us. Cheers !

[BADecker]

Kodak cameras and film:

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The KODAKOne image rights management platform will create an encrypted, digital ledger of rights ownership for photographers to register both new and archive work that they will then be able to license within the platform. KODAKCoin will allow participating photographers to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, and sell their work confidently on a secure blockchain platform.

About
KODAKOne

KODAKOne is a revolutionary new image rights management and protection platform secured in the blockchain that seamlessly registers, manages and monetizes creative assets for the photographic community.

[sammyp]

so what exactly are you talking about? Overstock.com or Kodak One? or are the two related? if so kindly let us know exactly what you are talking about.