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 an application from Spain for assistance under the European Globalisation adjustment Fund (EGF).
more »
Green issues continue to dominate the headlines, as MEPs from the Transport Committee vote Wednesday on possible new charges for lorries, based not only on CO2 emissions but other factors such as noise and air pollution and congestion.
more »
High level representatives from business, higher education and politics are meeting in Brussels on 5-6 February for the 2009 European University-Business Forum.
more »
Bailoutbooth.com is doling out $50 and $100 bills to anyone over 18 who can explain why they need it.
more »
China's big three airlines are predicting a bumpy ride for 2009. With the global economic slowdown, failing passenger demand and cost pressures, all three carriers are feeling the credit crunch's bite.
more »
The Czech EU Presidency aims to give a new impetus to European car industry, a key sector that has been seriously hit by the global economic crisis.
more »
Opening a new front in the fight against climate change, cities across Europe vow deeper emission cuts.
more »
Taking into account changes on international and domestic money markets AB DnB NORD Bankas, a member of international financial group, has changed individual and corporate customers time deposit rates.
more »
A European Commission report shows that structured dialogue between workers' and employers' representatives can help the EU face the economic crisis.
more »
Dennis Kozlowski, the ex-Tyco CEO who spent 6 thousand dollars in company money on a shower curtain, has plenty of company today in the corporate shame game.
more »