Beyond, Inc. Acquires Global Rights to Buy Buy Baby Brand for $5 Million

Beyond, Inc. acquires Buy Buy Baby brand rights for $5 million, aiming to enhance its portfolio and explore blockchain opportunities.

Quiver AI Summary

Beyond, Inc. has announced the acquisition of the global rights to the Buy Buy Baby brand from BBBY Acquisition Co. LLC for $5 million. The deal includes various assets such as intellectual property, vendor relationships, and databases linked to the brand. Executive Chairman Marcus Lemonis emphasized the strategic importance of this acquisition for strengthening Beyond's portfolio and enhancing the retail experience for parents. The company aims to innovate by tokenizing aspects of the Buy Buy Baby brand through a partnership with tZERO, which could lead to revenue-sharing opportunities for investors. Additionally, Beyond is looking to develop a "LifeChain" using blockchain technology to securely manage significant life events for consumers. This acquisition aligns with Beyond's goal of profitable growth and a shift towards tokenizing assets while securing essential data for customers' homes and lives.

Potential Positives

• Acquisition of the Buy Buy Baby brand strengthens Beyond's portfolio and enhances its market presence in the baby and parenting sector.
• Strategic partnership with Kirkland's enables flexible integration of Buy Buy Baby into existing Bed Bath & Beyond stores, potentially increasing foot traffic and brand visibility.
• Exploration of tokenization of intellectual property could lead to innovative revenue-sharing models and attract new investors to the company.
• The creation of the "LifeChain" initiative presents a unique opportunity for Beyond to integrate digital and financial assets, positioning the company at the forefront of emerging blockchain technology in retail.

Potential Negatives

• Acquiring the Buy Buy Baby brand for only $5 million may raise concerns about the brand's perceived value and viability, suggesting potential weaknesses in the company's portfolio strategy.
• The focus on tokenizing intellectual property and integrating blockchain technology could indicate that the company is diverting attention from traditional retail operations, which may not resonate with all investors and could lead to execution risks.
• The ambitious plans for the "LifeChain" initiative, while innovative, could be seen as overly speculative and lacking in immediate revenue generation, potentially detracting from traditional profitability metrics.

FAQ

What is the recent acquisition by Beyond, Inc.?

Beyond, Inc. has acquired the global rights of the Buy Buy Baby brand for $5 million, including various related assets.

Who is involved in the Buy Buy Baby acquisition?

The acquisition involves Beyond, Inc., BBBY Acquisition Co. LLC, and Kirkland’s as an omnichannel partner.

How will the Buy Buy Baby brand strategy evolve?

The brand will integrate into Bed Bath & Beyond stores and may open standalone locations, enhancing the in-store experience for parents.

What is the "LifeChain" initiative mentioned in the acquisition?

The "LifeChain" is a project to leverage blockchain technology to record significant life events in a secure digital wallet.

How does Beyond, Inc. plan to tokenize intellectual property?

Beyond and tZERO are exploring tokenizing part of the Buy Buy Baby intellectual property, potentially offering digital dividends to investors.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$BYON Insider Trading Activity

$BYON insiders have traded $BYON stock on the open market 4 times in the past 6 months. Of those trades, 3 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $BYON stock by insiders over the last 6 months:

• MARCUS LEMONIS (EXECUTIVE CHAIRMAN OF BOARD) has made 3 purchases buying 239,365 shares for an estimated $1,599,982 and 0 sales.
• WILLIAM BENJAMIN JR NETTLES sold 10,412 shares for an estimated $97,352

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$BYON Hedge Fund Activity

We have seen 87 institutional investors add shares of $BYON stock to their portfolio, and 115 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• VANGUARD GROUP INC removed 1,063,415 shares (-23.7%) from their portfolio in Q3 2024, for an estimated $10,719,223
• JAT CAPITAL MGMT LP removed 1,046,562 shares (-89.3%) from their portfolio in Q3 2024, for an estimated $10,549,344
• MARSHALL WACE, LLP added 959,634 shares (+648.6%) to their portfolio in Q3 2024, for an estimated $9,673,110
• FMR LLC removed 725,424 shares (-99.8%) from their portfolio in Q3 2024, for an estimated $7,312,273
• VERITION FUND MANAGEMENT LLC removed 476,560 shares (-95.7%) from their portfolio in Q3 2024, for an estimated $4,803,724
• BALYASNY ASSET MANAGEMENT L.P. added 445,128 shares (+inf%) to their portfolio in Q3 2024, for an estimated $4,486,890
• QUBE RESEARCH & TECHNOLOGIES LTD removed 345,542 shares (-60.6%) from their portfolio in Q3 2024, for an estimated $3,483,063

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Full Release

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.

This acquisition, combined with Beyond’s existing portfolio of assets and investments, drives us toward our mandate of operating a profitable company focused on traditional revenue and earnings growth. We are leveraging our belief in the evolution of tokenizing assets and the critical importance of securing data related to your home and life,” concluded Lemonis.

About Beyond

Beyond, Inc. (NYSE:BYON), based in Murray, Utah, is an ecommerce focused affinity company that owns or has ownership interests in various retail brands, offering a comprehensive array of products and services that enable its customers to unlock their homes’ potential through its vast data cooperative. The Company currently owns

Bed Bath & Beyond

,

Overstock

,

Zulily

, and other related brands and websites. The Company regularly posts information and updates on its Newsroom and Investor Relations pages on its website,

Beyond.com

.

Beyond, Bed Bath & Beyond, Overstock, and Zulily are trademarks of Beyond, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.

Cautionary Note Regarding Forward-Looking Statements

This press release contains 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 all statements other than statements of historical fact, including but not limited to statements regarding the completion or timing of the closing of the agreement to purchase the Buy Buy Baby brand and related intellectual property, any license or authority of Kirkland’s to use the Buy Buy Baby brand, opening of new stores and the timing of such, and any anticipated results and opportunities arising from the same. Forward-looking statements also include statements regarding the expansion of token offerings, future dividends, revenue share, and offerings, future blockchain efforts, record keeping and the scope of such, and anticipated results and opportunities relating to the same. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on February 23, 2024, on Form 10-Q for the quarter ended September 30, 2024, filed with the SEC on October 25, 2024, and in our subsequent filings with the SEC.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.