Alistair's Feed
Jun 16, 2013

Feature: From the ashes of Webvan, Amazon builds a grocery business

SAN FRANCISCO (Reuters) – The online grocery start-up Webvan may have been the single most expensive flame-out of the dot-com era, blowing through more than $800 million in venture capital and IPO proceeds in just over three years before shutting its doors in 2001.

Twelve years later, though, Webvan is rising from the dead – in the form of an online grocery business called AmazonFresh.

Jun 16, 2013

From the ashes of Webvan, Amazon builds a grocery business

SAN FRANCISCO (Reuters) – The online grocery start-up Webvan may have been the single most expensive flame-out of the dot-com era, blowing through more than $800 million in venture capital and IPO proceeds in just over three years before shutting its doors in 2001.

Twelve years later, though, Webvan is rising from the dead – in the form of an online grocery business called AmazonFresh.

Jun 14, 2013

Groupon shares rise on optimism about strategy shift

By Alistair Barr

(Reuters) – Groupon Inc (GRPN.O: Quote, Profile, Research, Stock Buzz) shares rose more than 10 percent to the highest level in almost a year on Friday after an analyst upgrade stoked optimism about a recent strategy shift by the world’s largest daily deal company.

Deutsche Bank analysts Ross Sandler and Lloyd Walmsley raised their rating on Groupon to buy from hold and increased their share price target to $10 from $6.

Jun 12, 2013

Exclusive: Textbook rental firm Chegg selects banks for IPO

By Olivia Oran and Alistair Barr

(Reuters) – Textbook rental company Chegg has selected two banks to lead an initial public offering, according to three sources familiar with the matter.

The Santa Clara, California-based company has picked JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz) and Bank of America Corp (BAC.N: Quote, Profile, Research, Stock Buzz), the sources said. The offering could raise $200 million, one of the sources said.

Jun 12, 2013

Textbook rental firm Chegg selects banks for IPO

June 12 (Reuters) – Textbook rental company Chegg has
selected two banks to lead an initial public offering, according
to three sources familiar with the matter.
The Santa Clara, California-based company has picked JPMorgan
Chase & Co (JPM.N: Quote, Profile, Research) and Bank of America Corp (BAC.N: Quote, Profile, Research), the sources
said. The offering could raise $200 million, one of the sources
said.

JPMorgan and Bank of America declined to comment. Chegg
could not be reached for comment.

Jun 10, 2013

Amazon targets frequent shoppers with new Prime service

SAN FRANCISCO (Reuters) – Amazon.com Inc unveiled a new version of its successful Prime shipping service on Monday as the world’s largest Internet retailer tries to attract more-frequent shoppers with groceries and other everyday household products.

Amazon expanded its AmazonFresh online grocery business into parts of Los Angeles on Monday, after testing the service in its hometown of Seattle for more than five years.

Jun 10, 2013

Google finalizing $1.3 billion deal for mapping company Waze: source

SAN FRANCISCO (Reuters) – Google Inc is finalizing a deal to acquire online mapping company Waze for $1.3 billion, according to a source familiar with the matter.

The deal is expected to be announced this week, though it was unlikely to occur on Monday, another source told Reuters.

Jun 6, 2013

Amazon plans big expansion of online grocery business -sources

SAN FRANCISCO (Reuters) – Amazon.com Inc is planning a major roll-out of an online grocery business that it has been quietly developing for years, targeting one of the largest retail sectors yet to be upended by e-commerce, according to two people familiar with the situation.

While food is a low-margin business, Amazon could outperform similar online grocery services by delivering orders for higher-margin items like electronics at the same time.

Jun 5, 2013

EBay to open ‘shoppable windows’ in New York

SAN FRANCISCO, June 5 (Reuters) – EBay Inc is
launching virtual stores called “shoppable windows” this month
that the e-commerce company hopes will help retailers generate
more sales from their existing physical store networks.

The first four of these screens will open from June 8
through July 7 in busy parts of New York City, such as the lower
east side and Soho. They will sell 30 items from Kate Spade
Saturday, a new fashion brand launched this year by apparel
retailer Fifth & Pacific Companies Inc.

Jun 4, 2013

Amazon plans major move into grocery business

SAN FRANCISCO (Reuters) – Amazon.com Inc is planning a major roll-out of an online grocery business that it has been quietly developing for years, targeting one of the largest retail sectors yet to be upended by e-commerce, according to two people familiar with the situation.

The company has been testing AmazonFresh in its hometown of Seattle for at least five years, delivering fresh produce such as eggs, strawberries and meat with its own fleet of trucks.