Overstock was one of the top four of the National Retail Federation Foundation/AMEX Customer Choice Awards.
Overstock was the only eCommerce company to make the list.
Overstock received recognition from a top national news organization as a website that truly saves shoppers money.
SALT LAKE CITY, April 2, 2014 /PRNewswire/ -- Overstock.com, Inc., (NASDAQ: OSTK) the online shopping site, has been ranked as one of America's "100 Most Trustworthy Companies" by Forbes. The media outlet's list finds and recognizes the "most transparent and trustworthy businesses that trade on American exchanges." Overstock.com was the only eCommerce company to make the list."We are thrilled to be recognized by Forbes for our credibility and ethical behavior," said Patrick Byrne, Overstock.com Chairman and CEO. Byrne, who holds a doctorate in philosophy from Stanford, added, "My colleagues have long sought to make ethical behavior a key ingredient of our business model, from the way we treat each other within the firm, to the way we engage and negotiate with our suppliers, to the world-class service our Customer Care team offers our customers. This commitment extends to such offshoots of our business model as empowering global artisans through Worldstock (which recently crossed the $100 million mark in remittances to global artisans), empowering small entrepreneurs around the USA through Main Street Revolution, repurposing our technology to facilitate Pet Adoption (announced this week), and Farmers Market (coming soon). Lastly, in 2004-2005 we took as our social mission the task of exposing and burning down the New York-Washington oligarchy, and consider ourselves successful at the first (and would be successful at the second were it not for our nation's sclerotic political class and captured regulatory institutions). So that remains an ongoing project."
To develop this list, Forbes used GMI Ratings. GMI, a provider of environmental, social accounting and governance risk ratings worldwide, reviewed the performances of over 8,000 publicly traded companies in North America.
GMI considered factors including high-risk events, revenue and expense recognition methods, SEC actions, and bankruptcy risk to indicate a company's credibility.
In addition to this accolade, Overstock.com has also been a recipient of Gartner's User's Choice Award for Customer Relationship Management Excellence, Compuware's Best of the Web Gold Award in the U.S. Retail Product Order Transaction category and consistently placed in the top four of the National Retail Federation Foundation/AMEX Customer Choice Awards. Forbes magazine named Overstock.com the No. 9 Best Company to Work for in the Country for 2010, and Byrne the CEO with the highest employee approval rating (92%). Byrne received the 2011 Ernst & Young National Entrepreneur of the Year Award.
Overstock.com was most recently named in the top three online retailers in the 2014 Customer Loyalty and Engagement Index with Amazon and Ebay. In addition to these honors, Overstock.com recently received recognition from a top national news organization as a website that truly saves shoppers money.