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

To: Glenn D. Rudolph who wrote (90796)	1/12/2000 10:04:00 AM
From: H James Morris	Read Replies (2) \| Respond to of 164684

Glenn, Bezos spends another $60mil. When will this big spender run out of $cash? Ps Bought a lot of Coca Cola (KO) >NEW YORK - Investors led by Amazon.com are pumping $100 million of venture capital into Kozmo.com, a fast-growing, closely held company that delivers movies, snacks and other items purchased over the Internet. Today's Wall Street Journal, citing people involved in the financing, said Kozmo.com is raising $60 million from Seattle-based Amazon.com, which will acquire a 23 percent stake, and nearly $30 million from an affiliate of Softbank of Japan, an active backer of Internet businesses. Identities of the remaining investors weren't disclosed. Amazon.com is the biggest Internet retailer. All told, the investors are acquiring about a third of the Kozmo.com, the Journal said. That would value the company at about $300 million after the capital infusion. Some 1,000 messengers, most of them on bicycles, deliver goods ordered over Kozmo.com, generally within an hour. Besides its original New York City market, the company has expanded to Seattle, San Francisco, Boston and Washington, D.C. The company plans to enter 21 more markets by year's end. The company was founded by Joseph Park, a former employee of New York financial services concern Goldman Sachs Group. While the service initially focused on books, music and video rentals, Kozmo.com has branched out to offer everything from batteries to Tylenol and Krispy Kreme doughnuts. Up to now, Amazon.com's distribution strategy has focused on building giant warehouses in Nevada, Kansas and other rural locations - and then using United Parcel Service and the Postal Service to make most deliveries. But Amazon.com last year also bought a sizable minority stake in HomeGrocer.com, a Bellevue, company that provides next-day home delivery of groceries ordered online.