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RELATED PARTY TRANSACTIONS
12 Months Ended
Dec. 31, 2017
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS

On occasion, Haverford-Valley, L.C. (an entity owned by our Chief Executive Officer, Dr. Patrick Byrne) and certain affiliated entities make travel arrangements for our executives and pay the travel related expenses incurred by our executives on company business. During the years ended December 31, 2017, 2016 and 2015, we reimbursed Haverford-Valley L.C. $601,000, $703,000, and $423,000, respectively, for these expenses.

In November 2017, our subsidiary O.com Land, borrowed $40.0 million from PCL L.L.C., an entity owned by the brother and mother of Dr. Patrick Byrne. We have guaranteed the loan, and it is secured by our corporate headquarters, the land on which it is located and certain fixtures and personal property related to the property. In connection with the loan, O.com Land entered into an environmental indemnity agreement in favor of PCL L.L.C. The loan is subject to mandatory prepayment under certain circumstances.

In November 2016, we entered into a Software Licensing Agreement with SiteHelix Inc. (the "SiteHelix Agreement"). Saum Noursalehi, our President, Retail, is the majority owner of SiteHelix. Pursuant to the SiteHelix Agreement, SiteHelix granted a non-exclusive, non-transferrable license to its proprietary software to us. The software is intended to improve customer conversion rates on our website. Pursuant to the SiteHelix Agreement, we will pay SiteHelix 20% of an amount, if any, intended to reflect the economic benefit of the software to us, as calculated by us. Either party may terminate the SiteHelix Agreement on 30 days' notice to the other party. In addition to this and other termination rights, we may terminate the SiteHelix Agreement immediately at any time if we determine that we can obtain substantially the same services from an unrelated person or entity at a lower cost, or better services from an unrelated person or entity for substantially the same cost. During 2017, we have made payments to SiteHelix totaling approximately $31,000.

In February 2018, we also purchased the assets of Rental Roost and Houserie, companies in which our Senior Vice President Vikram Raghavan is a shareholder, for a combined purchase price of $600,000, and in January 2018, Medici Ventures purchased an interest in Bitsy, Inc., a startup company founded and one-third owned by Medici Ventures' chief operating officer and general counsel, for $1.0 million.