SOURCE: The 41st Parameter

July 16, 2007 13:03 ET

Overstock.com Selects Fraud Detection and Prevention Solution From The 41st Parameter

Enterprise Solution Reinforces Commitment to Superior Customer Experience and Brand

SCOTTSDALE, AZ--(Marketwire - July 16, 2007) - The 41st Parameter, the leader in fraud detection and prevention solutions for the online retail channel, today announced that Overstock.com, Inc. (NASDAQ: OSTK) has selected its FraudNet™ enterprise fraud detection and prevention solution to help support its business growth, brand and customer experience goals. Overstock.com is an internet "closeout" retailer, offering brand-name merchandise for sale at a discount. The Company gives its customers an opportunity to shop for bargains conveniently, while offering retailers an alternative channel for inventory liquidation.

"Creating a superior experience for customers is a critical priority for Overstock.com," said Stormy D. Simon, senior vice president of branding and customer care at Overstock.com. "We selected The 41st Parameter because of their ability to provide excellent anti-fraud capabilities while maintaining a seamless online shopping session for our customers."

FraudNet leverages leading risk management and client device identification capabilities in order to optimize the online experience for shoppers and online merchants alike. FraudNet's unique technologies and business processes require no user enrollment or registration and therefore do not affect sensitive privacy concerns. Additionally, the patent-pending solution does not require the use of cookies, tags or software downloads, which can interfere with the shopper's experience.

"Based on the changing dynamics and complexity of fraud, eCommerce retailers, and traditional brick and mortar retailers with an online presence are signaling a need for comprehensive, scalable and flexible solutions that contribute directly to minimizing fraud while growing revenue and building their brand," said Ori Eisen, founder, chairman and chief innovation officer, The 41st Parameter. "We are pleased to partner with a leading online business such as Overstock.com to help protect their customers without adversely impacting the overall user experience."

About Overstock.com

Overstock.com, Inc. is an online "closeout" retailer offering discount, brand-name merchandise for sale over the Internet. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory liquidation distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ National Market System and can be found online at http://www.overstock.com.

Overstock.com is a registered trademark of Overstock.com, Inc. All other trademarks are the property of their respective owners.

About The 41st Parameter

As the leader in online fraud detection and prevention solutions, The 41st Parameter is instrumental in reducing fraud online for eCommerce and financial institutions through highly accurate anti-fraud capabilities. By continuously collecting new and unique parameters from end-user computers during online account access or order processing, the Company's patent-pending technologies enable forensic identification of PCs and online devices. Such accurate client device identification is proven to prevent online fraud while improving operational efficiencies, saving time, money and protecting legitimate customers. None of the Company's solutions require end-user registration, enrollment, downloads or installations. To find out how the Company is making fraud history, visit www.the41.com or call 1.888.the.41st (1.888.843.4178).

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements about the effectiveness of the solution for Overstock in achieving a superior customer experience and succeeding in detecting and preventing fraud, as well as all such other risks as identified in our Form 10-K for the year ended December 31, 2006, and all our subsequent filings with the Securities and Exchange Commission, which contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements.

Contact Information

  • Contact:
    Tim Manning
    Phone: (480) 776-5515
    Email: Email Contact

    The 41st Parameter
    14301 North 87th Street, Suite 213
    Scottsdale, AZ 85260
    Phone: 480.776.5500
    Fax: 480.776.5504
    Email Contact