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
In Gothenburg Sweden a deal is done for Volvo. A delegation from China’s Zhejiang Geely Holding Group, China’s largest private-run car maker, was given the red carpet treatment when it agreed to buy Ford Motor’s Volvo car unit for 1.8 billion dollars.
more »
The President of the Spanish Government and current rotational President of the European Union, José Luis Rodríguez Zapatero, affirmed this Sunday that during his presidency of the EU, Spain will continue to support the inclusion of the "complete affirmation of equality between men and women" within the new economic strategy.
more »
Despite the unfavorable macroeconomic situation, AS UniCredit Bank Lithuanian Branch achieved positive activity indicators in 2009: the bank branch operated profitably, the total loan portfolio and assets increased and the number of customers grew.
more »
Young people, economic recovery and research should be the EU's top budgetary priorities, said the European Parliament on Thursday, when it became the first EU institution to adopt an opinion on next year's budget.
more »
The sixteen leaders of the euro area countries (the Eurogroup) have given their support to the financial aid mechanism for Greece; this involves the participation of the International Monetary Fund (IMF) and of the euro area countries through bilateral loans.
more »
Today, President of the European Commission José Manuel Barroso, President of the European Council Herman Van Rompuy and Spanish Prime Minister José Luis Rodriguez Zapatero representing the Presidency of the Council met the European social partners to look at how Europe can exit the current economic and financial crisis.
more »
Around 1,100 former furniture and textile workers in Lithuania will receive EU aid worth €1.2 million following a vote by Parliament on Thursday.
more »
An estimated 100 million people in developing countries will fall into extreme poverty because of the economic and financial crisis, according to a report being presented Wednesday evening in the House.
more »
The Heads of State or Government of the EU-27 will make their first formal decisions in the process to develop the “Europe 2020” strategy that aims to achieve sustainable economic growth, job creation as well as recognition for the European social model.
more »
On 16 March 2010 the Lithuanian Authority, Ryšių reguliavimo tarnyba (RRT), informed the European Commission that it was withdrawing its proposed measure on network infrastructure access markets.
more »