In This Article:
Acquisition Drives Profitable Revenue Growth, tZERO Tokenization Offerings, and Pioneers Blockchain Innovation for Life Events
MURRAY, Utah, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Beyond, Inc. (NYSE: BYON), owner of Bed Bath & Beyond and Overstock, announced today that it has entered into an Asset Purchase Agreement with BBBY Acquisition Co. LLC to acquire the global rights of the Buy Buy Baby brand. The purchase price of $5 million includes certain assets, databases, domains, intellectual property, vendor relationships, and content related to Buy Buy Baby.
Marcus Lemonis, Executive Chairman of Beyond, commented, "Bed Bath & Beyond and Buy Buy Baby have historically been synonymous with supporting families, their homes, and all of life’s milestones. Our goal is to go beyond the traditional omnichannel mindset, focusing on the four corners of the property, and the four walls of the home. It is our objective to help homeowners enhance, protect, and unlock the value of their most important assets and information related to their homes and lives. There are three very specific strategic drivers of this transaction:
1. Strengthening the Beyond Portfolio: Alongside our omnichannel partner, Kirkland’s, we collectively believe the Buy Buy Baby brand has a strong future both online and in brick-and-mortar. Kirkland’s will have full flexibility, from integrating Buy Buy Baby into Bed Bath & Beyond stores, to opening standalone locations under each legacy banner. The Buy Buy Baby in-store experience will be a destination for parents, offering curated selections of the best brands for every stage of childhood.
2. Tokenizing Intellectual Property: Beyond and tZERO, with its SEC-regulated special purpose broker dealer license, are deeply exploring the tokenization of a portion of the Buy Buy Baby intellectual property. The company is considering two separate offerings on the tZERO platform. The first would potentially be a digital dividend available to current holders of Beyond as of a specific record date, while the second would be an offering to new investors interested in owning a share of the intellectual property. In both cases, our goal is for the token to provide a revenue share on the omnichannel revenue generated by the brand, along with loyalty benefits across the Beyond platform.
3. Building the “LifeChain”: We see an unprecedented opportunity to leverage tZERO’s blockchain technology and the Buy Buy Baby assets to build the first ledger that records all significant life events, starting from birth records, medical records, and life milestones to educational records, financial products, insurance, and purchases. This initiative, which we’re calling the “LifeChain,” will integrate the consumer’s financial and digital assets into a single, secure digital wallet, supported by Salesforce and its Agentforce technology.