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Created on: November 17, 2009 Last Updated: February 02, 2012
Patrick Byrne and Blake Mycoskie two men, who both started huge successful companies, yet kept in mind their duty of giving back to their community and fellow men. Both ideas of establishing a socially conscious business, came to their founders while travelling abroad, after seeing some of this globe's poorest people. Each had an inner voice driving them to make social responsible decisions to help others that are not as fortunate and to give them a chance to succeed. It is refreshing to see that there are still individuals out there who believe they can run successful profitable businesses and still feel it is their duty to help.
OVERSTOCK.COM, founded by Patrick Byrne in 1999, is headquartered in Salt Lake City, Utah. Currently, it is one of the largest on-line retailers. It has seen tremendous growth over the last decade. In 1999, revenue was at $1.8 million. For 2008, the company saw revenue over $800 million.
While OVERSTOCK.COM has grown tremendously, it has recognized its duty to be a good social responsible corporate citizen. Byrne a frequent traveler of Southeast Asia appreciated the first class work of local indigent artisans. These products were of very high quality and beauty were being produced in some of the world's poorest regions. He knew there was a large market waiting in the United States for these items. But, he realized the craftsman were very limited in means of getting their product out to be seen and sold. In 2001, Byrne created WORLDSTOCK, a division of OVERSTOCK.COM, to allow these local artisans a means to sells their wares.
WORLDSTOCK seeks items worldwide created by local craftsman; focusing on items that are environmentally sound and do not burn up natural or human resources. It offers these goods for sale through their on-line Internet site. The goal of WORLDSTOCK is not to make a profit, but to create thousands of jobs in these poor regions. It allows these people a chance to become economically sustainability. Another major priority of WORLDSTOCK, is to sustain the cultural environment, by keeping the artisans in their traditional settings and practices while creating their product.
Currently on WORLDSTOCK, there are thousands of handmade items, from jewelry to household goods, ranging from countries such as Afghanistan, Columbia and Vietnam. In April 2008, it was confirmed that over $30 million has been returned to the local impoverished artisans since 2001.
TOMS Shoes, headquartered
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