Last week when the .CO registry announced it has surpassed 1 Million domain name registrations it teased that there would be a major announcement coming today from Overstock, and as we guessed on our post at the time, Overstock.com officially announced today that it is going to start transitioning the changing of its name from Overstock.com to O.Co starting with the stadium naming deal of the home of The Oakland Raiders and The Oakland A’s.
According to AdAge.com, the change will be reflected today as a new sign will be installed at the home of the Oakland Raiders and Oakland Athletics and it it will read:
The first event in the new O.Co stadium is a U2 Concert tomorrow night.
Yes U2 is going to rock the O.Co.
The next highly visible change is if you go to Overstock.com today you will see that the website logo has also changed:
“O.co, also known as Overstock.com”
Before today the site said :Overstock.com also known as O.co.:
TV ads will begin to reflect the change to O.co after Father’s Day.
“O.co will keep on emerging as our brand,” he said. “It’s been a gradual transition. We didn’t want to risk throwing out the brand equity we’ve built with Overstock.com. … I think if it all works really nicely, you’ll just see Overstock.com fade away and O.co take its place.”
Overstock President Jonathon Johnson likened the change to when Kentucky Fried Chicken changed its name to KFC. “Our business has changed. We used to be a pure liquidator and our product was all overstock.
“We’ve been known for a long time as the O. TV commercials back in 2004 used ‘It’s all about the O.'”
The company said O.co as a brand name also works better globally, whereas the word “overstock” is sometimes difficult to translate. While Overstock has what Mr. Johnson called a “nascent” global footprint, he said it plans to grow significantly and begin to build “in-country” presence overseas.
The company says that 20% of its customers are going directly to the O.co homepage vs. Overstock.com.
UPDATE: The official press release is now out on the Stadium