From tablecloths to tenants? Overstock makes a move into real estate

Overstock.com Inc. OSTK, -2.06% on Monday announced it was acquiring Houserie, a property management platform, as a first step into the real estate market.

The online discount retailer purchased Houserie, a site that provides landlords and property managers with services for managing single- and multi-family homes, as the first phase of what it is calling O Real Estate.

The full O Real Estate site will launch in September, and Overstock says it will be a portal “for renting, buying and managing property, all in one place.” In response to MarketWatch requests for clarification, Overstock Senior Vice President of Strategy Seth Moore said in an email that O Real Estate will “provide a real estate portal connecting customers to properties for rent or sale as well as a portal for managing rental properties.

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