Overstock.com Wins a Contract to Build a Federal Government E-Commerce Platform
After branching out into financial technology to supplement its e-commerce business, Overstock.com (NASDAQ: OSTK) says it just won a contract with the General Services Administration (GSA) to construct a business-to-business e-commerce platform for the federal government. Two other companies, Thermo Fisher Scientific (NYSE: TMO) and Amazon.com (NASDAQ: AMZN), through its Amazon Business segment, were also selected for the initiative by the GSA.
The program, which is described as a pilot, is intended to streamline procurement of necessary furniture and other items for various agencies, increasing security and saving money. Overstock.com CEO Jonathan Johnson says his company is "thrilled GSA has selected us for this exclusive group of online retailers to participate in this proof-of-concept pilot program which will allow us to supply key items like office furniture and equipment to government agencies."
Image source: Getty Images.
Source Fool.com
