Word: webvan
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Dates: during 1990-1999
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...different idea about what kind of goods you want and when you want them. At the basic end of the scale, Netgrocer.com wants to send you nonperishables like cereal or juice in a FedEx box sometime in the next four days. At the other, San Francisco-based Webvan will bring you hideously perishable stuff like ice cream and iceberg lettuce within a 30-min. window...
These companies don't always manage it, but you've got to give them points for effort. Webvan boasts that its 330,000-sq.-ft. warehouse is so meticulously organized that no packer has to walk more than 19 1/2 ft. in search of a product. Now, post-IPO, the firm is set to build 26 warehouses across the country at a cost of $1 billion...
...stake in more e-businesses in more countries than any other cyberprospector out there. Yahoo? Softbank is the largest single investor, with 23%. PeoplePC, the $24.95-a-month service that gives you a free computer and online access, is a Softbank-affiliated company. So is online grocer Webvan, whose initial public offering three weeks ago soared 66% on Day One. So too is Global Sports, which just launched shopping sites for Athlete's Foot and a host of other sporting-goods stores. And so on, to the tune of more than $40 billion in around 130 companies (even Softbank executives...
...four months-- although "investing" hardly describes the act of writing checks as fast as you can. Last month Softbank opened Hotbank, an incubator for start-ups. There has been no need to advertise. Each week hundreds of applications pour into Hotbank; out come announcements of new Softbank allies: PeoplePC, Webvan, Global Sports, InsWeb, WebMD...
...their own Internet conglomerates. Now they may have to do battle with Softbank. "These keiretsu are going to face off like football teams," says Howard Anderson, founder of consultants the Yankee Group. Yahoo competes with Lycos, which CMGI covets, and Kleiner Perkins' WebGrocer will be up against Softbank's Webvan, another online supermarket based in California...