Overstock.com Begins IPO

from the good-for-them dept

So, Overstock.com started the process of auctioning off their shares for an IPO today. They're using WR Hambrecht's open auction IPO system, which I think is pretty cool of them. The open auction system is a lot more fair, and sets a much more realistic opening price for the stock (and doesn't involve institutional investors and i-bankers lining their pockets unfairly). Of course, not many companies go with the process (in fact, the only one I can think of off the top of my head is Salon.com), so it will be interesting to see how well the Overstock stock is received.