Buyaladdin Inc. has joined the “Affiliate Program” of Overstock (NASDAQ:OSTK). Buyaladdin will now have access to Overstock’s assortment of new home goods products. Buyaladdin plans to launch this initiative in the first quarter of 2020. According to a release, tZERO – a blockchain subsidiary of Overstock – provided consulting services to the ABBC Foundation as part of the affiliate hook up.
Buyalladin allows users to purchase products by using crypto. Buyaladdin launched earlier this year.
Meanwhile, Overstock has endured a difficult period of declining sales. For the most recent quarterly report, Overstock announced a 21% decline in quarter over quarter revenue or $347.1 million vs. $440.6 million. Shares in Overstock have dredged 52-week lows.
“Buyaladdin is a big player in the Asian market,” explained Saum Noursalehi, CEO of tZERO. “We look forward to exploring potential capital markets opportunities with Buyaladdin in the region.”
Geun-Woo Lee, CSO of Buyladdin, said they were thrilled to join the affiliate program to expose Asian consumers to Overstock’s items:
“We believe that online shoppers in Asia who want control of how they purchase goods will be excited to access Overstock’s wide variety of products via Buyaladdin. We are excited to take the first steps in collaborating with Overstock and tZERO and hope to partner with them on future strategic opportunities in the digital assets space.”