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Overstock.com Inc Medici Ventures Day (Virtual) Transcript

May 10, 2022 / 03:00PM GMT
Release Date Price: $31.44 (-7.72%)
Jonathan E. Johnson
Overstock.com, Inc. - CEO & Director

Welcome to the Medici Ventures Day hosted by Pelion Venture Partners. I'm Jonathan Johnson, Chief Executive Officer of Overstock.com, former President of Medici Ventures and a big believer in the world-changing power of blockchain technology.

In April 2021, Overstock finalized its strategic partnership with Pelion Venture Partners to oversee the Medici Ventures portfolio of blockchain companies. Overstock became a limited partner and Pelion took control of the Medici Ventures portfolio as a general partner. Pelion now supports the day-to-day management activities, having sole authority and responsibility for the fund's investment decisions and exercising all shareholder rights that Medici Ventures held in the portfolio companies.

Though I thoroughly enjoyed my work as the President of Medici Ventures and the brilliant people who created and worked for its promising portfolio of companies, Overstock did this deal with Pelion for 2 reasons.

First, it will allow me and the rest of the Overstock management team to focus

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