HomeGrocer Bags $100M

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."
Šaltinis: CNNfn
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

MEPs secure overhaul of EU financial regulation

The financial and economic crisis has shown that reckless behaviour of banks and other financial institutions can have serious and costly consequences for Europe's economy and its people. more »

MEPs back unspent money for local energy & transport investment

Local services that create jobs and improve energy efficiency received a boost Thursday (2 September) when MEPs on the Industry, Research and Energy Committee approved plans for more investment. more »

The European Union approves EUR 264 million to help 19 African, Caribbean and Pacific States face the consequences of the economic crisis

The European Commission approved the first financing decisions under the EUR 264 million 2010 allocation for the so-called Vulnerability FLEX mechanism to help the most vulnerable African, Caribbean and Pacific countries cope with the impact of the global financial crisis and economic downturn. more »

Commission adds two Ghanaian airlines to the EU list of air carriers subject to an operating ban

The European Commission has today updated the list of airlines banned in the European Union to impose an operating ban on one air carrier from Ghana and to place operating restrictions on another air carrier from that country. more »

€7.5 million of EU funds to help 951 former workers in marine manufacturing in Denmark find new jobs

The European Commission today approved an application from Denmark for assistance under the European Globalisation adjustment Fund (EGF). more »

Commissioner Šemeta visits China to boost cooperation in custom controls and tackling counterfeit goods

Algirdas Šemeta, EU Commissioner for Taxation, Customs Union, Anti-Fraud and Audit, will open tomorrow an international conference at the Shanghai World Expo 2010 on building bridges to facilitate trade between China and the EU. more »

€90 million EU grant to crisis-hit Moldova approved by EP Trade Committee

Moldova is set to receive an EU grant of up to €90 million to help it through the financial crisis, following a vote at Parliament's Committee on International Trade on Monday. more »

August 2010: Business Climate Indicator for the euro area remains broadly unchanged

Important notice: since May 2010 business surveys data are classified in accordance with an updated version of the Nomenclature of Economic Activities (NACE rev. 2) causing a potential break in series at this date. more »

Spring 2010 Eurobarometer: EU citizens favour stronger European economic governance

75% of Europeans think that stronger coordination of economic and financial policies among EU Member States would be effective in fighting the economic crisis, according to the Spring 2010 Eurobarometer, the bi-annual opinion poll organised by the EU. more »

State aid: Commission extends the Slovenian bank liquidity support scheme

The European Commission has extended until the end of the year the liquidity support scheme for banks in Slovenia. more »