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Technology Stocks : Streamline.com, Inc. (SLNE) -- Ignore unavailable to you. Want to Upgrade?

To: Ginyan who wrote (40)	7/13/1999 8:33:00 AM
From: Mohan Marette	Respond to of 56

Strategic investors include Nordstrom, Intel, SAP and GE Capital Oh so that is why the stock had some action the other day.I knew about Nordstrom's association but had no idea about Intel,SAP and GE Capital,that is some heavy weights they got backing them,interesting. ============================== Streamline.com Announces Plans to Accelerate National Expansion WESTWOOD, Mass.--(BUSINESS WIRE)--July 13, 1999--Streamline.com, Inc. (NASDAQ: SLNE - news) today announced that it will accelerate its national expansion plans as a result of increased consumer demand and changing market conditions. ''Consumer demand in excess of earlier expectations and competitive developments in the consumer direct industry are both validating the industry and creating the need for more rapid expansion,'' stated Tim DeMello, Chairman and CEO of Streamline.com. The company raised net proceeds of $41.85 million through its initial public offering on June 18, 1999. The net proceeds to the company will be used to finance the expansion of its business and for general corporate purposes, including working capital and capital expenditures. The company originally planned to operate seven to 10 fulfillment centers in five markets by the end of 2001; however, the company is revising its plans to reflect a more aggressive growth rate of customers and markets. It currently operates in the Boston, MA market and will open in the Washington, DC market later this year. According to industry experts, the consumer direct industry could exceed $50 billion in the next five to seven years. ''We believe the industry will be consolidated and dominated by four to five national companies. We feel Streamline.com has the right business model and is well positioned to capture significant market share,'' said DeMello. ''Our focus on the customer, combined with key strategic relationships, will allow us to accelerate the acquisition and service of customers and be among the leaders in the emerging consumer direct industry.'' Strategic investors, including have contributed over $36 million in private financing to the company prior to the recent public offering. Streamline.com, a pioneer in the consumer direct market place, provides busy suburban families (BSFs) with time-saving lifestyle solutions. The company provides these BSFs with Internet-based ordering of a wide range of quality goods and services and delivers these items directly to their homes.