Webvan's splashy stock debut may shake up staid grocery industry

Article Abstract:

The initial public offering of Webvan Group Inc. may cause supermarket chains to take pause and consider a quicker move into Internet retailing. Webvan's shares rose 66% from their opening price of $15, finishing regular trading on the Nasdaq Stock Market at $24.875 apiece. The two-year old company combines Internet grocery shopping with free home delivery. Webvan had a total market value of over $8 billion at the end of the trading day despite that fact that it is expected to achieve sales of only $11.9 million this year. The company had a loss of $35 million in the first half of 1999, and its underwriters project a loss of $302 million in 2001.

Supermarkets and Other Grocery (except Convenience) Stores, Grocery stores, Supermarkets, Video Retailing Service, All Other Information Services, Securities issued, listed, Statistical Data Included, Innovations, Grocery industry, Marketing, Electronic commerce, E-commerce, Home shopping, Initial public offerings, Company public offering, Webvan Group Inc.

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Softbank strikes gold on the Web

Article Abstract:

Softbank has seen its investments in Internet-related companies rise $12 billion for the year. Softbank shares rose $1 billion in value upon the merger of Yahoo and GeoCities. The company also holds large stakes in E-Loan Inc. and E-Trade Inc. Softbank has increasingly become an important player in dealmaking for high-technology public offerings. Softbank has proven itself willing to invest up to $100 million in a company to help it get started.

On-Line Information Services, Videotex & Teletext, Computer Software Wholesale, Computer and Computer Peripheral Equipment and Software Wholesalers, Computers, peripherals & software, Computer software industry, Software industry, Finance, Online information services, Company sales and earnings, Company earnings/profit, Softbank Corp., Software distributors, Online information service

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