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

To: Glenn D. Rudolph who wrote (52351)	4/22/1999 10:57:00 PM
From: Rob S.	Read Replies (1) \| Respond to of 164684

This may be yesterday's news: "Sources: Amazon.com retailer invests in HomeGrocer by San Jose Mercury News, April 21, 1999 Amazon.com is preparing to announce the next sector it intends to conquer: groceries. The Seattle-based online retailer has made a large minority investment in HomeGrocer.com, a Bellevue online grocer, according to three sources with knowledge of Amazon.com's activities. Details are sketchy: HomeGrocer.com executives didn't return calls, and an Amazon.com spokeswoman said, "We don't comment on rumor and speculation." But two Silicon Valley venture capitalists and one executive with an Amazon.com neighbor confirm that Amazon.com's significant stake in HomeGrocer.com will be similar to its recent investment in drugstore.com, also based in Seattle. In February, Amazon.com bought a 46 percent stake in the privately held online pharmacy, expanding from its online offerings of books, music and videos. HomeGrocer.com launched a Seattle-area grocery service from a warehouse in Bellevue last year. HomeGrocer.com is expected to expand operations to a second Western city this year. Forrester Research last year predicted that online grocery sales would total $10.8 billion annually, or 2 percent of total grocery sales, by 2003. Amazon.com, drugstore.com and HomeGrocer.com have all drawn investments from Kleiner Perkins Caufield & Byers, the pre-eminent Silicon Valley venture-capital firm. Together with San Francisco's Hummer Winblad Venture Partners, Kleiner invested $5 million last year in HomeGrocer.com. Kleiner often plays matchmaker with the companies in which it invests. Information from Seattle Times business staff is included in this report."