Overstock.com this week announced a marketing ploy inspired by news headlines: The online retailer said it would pay off $50,000 of the debt of the winner of its “Overstock.com Family Bailout” plan.
The contest kicked off Monday, with an official entry deadline of December 22. The winner of the bailout package will be announced December 30.
No purchase is necessary for eligibility; however, entrants are automatically submitted when purchasing items through Overstock.com.
“We’re sinking into the most challenging economic environment since the Great Depression,” said Patrick Byrne, Overstock.com chairman and CEO, in a statement. “This is our way of lending a helping hand to those that need it.”
The bailout will award one qualifying entrant with up to $50,000 to be paid by Overstock.com directly to one or more qualified creditors of the winner or the winner’s immediate family.
To enter or nominate someone you know, visit http://www.overstock.com/familybailout.