Online "mega"grocer nears laucnh

Jim Whitehead (
Thu, 22 Apr 1999 13:42:53 -0700

"Online megagrocer nears launch"

Webvan wont open its Web site for at least a
month. But it has already attracted $120 million
in funding a huge amount for a start-up from
such high-profile backers as CBS Inc., Knight-Ridder
Co., Softbank Corp. of Japan and two of Silicon
Valleys top venture-capital firms. Nearly half
that money has been spent already, much of it on
the Oakland warehouse, a 330,000-square-foot
behemoth adorned with five miles of conveyor belts
and $3 million of electrical wiring.

- Jim