Online grocer raises additional funding to compete against Webvan.
Published:
4 November 1999 y., Thursday
Internet grocery firm HomeGrocer.com Inc. said Tuesday it netted $100 million in venture funding as it goes head-to-head against competitors including Webvan Group Inc. The latest round of funding comes from previous investors in HomeGrocer.com., including venture capitalists Kleiner Perkins Caufield & Byers, Hummer Winblad Venture Partners, Barksdale Group and Internet retailer Amazon.com Inc. The Kirkland, Wash.-based virtual grocer currently operates in three West Coast markets: Seattle, Wash.; Portland, Ore.; and Orange County, Calif. Customers can order 13,000 brand items such as produce, meats, seafood, dairy products and specialty foods. HomeGrocer_s main rival, San Francisco-based Webvan Group Inc., had to withdraw its IPO last month after raising the ire of the Securities and Exchange Commission (SEC). The company came under scrutiny following its road show, during which it allegedly disclosed information not available in the company_s prospectus. The IPO now is scheduled to go next month. "HomeGrocer.com combines a first-class front-end Web experience with the most efficient distribution model," said Jim Barksdale of Barksdale Group. "Based on my experience at both Federal Express and Netscape, it_s clear to us that HomeGrocer.com has the right combination to address the huge online grocery market."
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Commission has approved, under EC Treaty state aid rules, an Italian framework temporarily adapting certain existing risk-capital schemes to increase companies' financing possibilities during the current economic crisis.
more »
The European Commission has authorised, under EC Treaty state aid rules, a Maltese measure to help businesses to deal with the current economic crisis.
more »
We're making progress. That's the word from Treasury Secretary Tim Geithner about settling the financial markets.
more »
According to a new report released by NextGen Research, global markets for financial kiosks and enhanced ATMs will grow at a compound annual rate of 9 percent, to include more than 186,000 financial kiosks and nearly 2.5 million ATMs by 2013.
more »
Non-farming Latvians are buying pigs to beat the economic crisis.
more »
Is your money well spent at EU level? Every year, in April, the EP concludes its examination of EU spending for the financial year closed 16 months previously.
more »
In the construction sector, seasonally adjusted production1 decreased by 1.0% in the euro area2 (EA16) and by 2.1% in the EU272 in March 2009.
more »
Between 2000 and 2008, EU27 trade in goods with Russia more than tripled in value, with EU27 exports to Russia rising to 105 bn euro in 2008 from 23 bn in 2000.
more »
The European Commission has launched today a call for proposals covering key energy infrastructure projects such as energy interconnections, offshore wind energy and carbon capture and storage as part of the implementation of the EEPR.
more »
During its plenary session on 13 May 2009, the European Economic and Social Committee adopted a key opinion on responding to the crisis in the European automotive industry.
more »