Homegrocer.com was founded only last year, and is funded with money from Kleiner Perkins Caufield & Byers, the same venture capital firm that helped launch big Internet brands such as Amazon, Excite and At Home. Last month former Netscape chief executive James Barksdale invested some $5 million in the privately held online grocery company. MORE >>
The world's biggest what? Amazon.com announced today that it's buying 35 percent of Homegrocer.com, a Seattle-area online grocer with national plans. The $42.5 million-dollar investment is just the latest splash in an ongoing wave of expansion plans that include eBay-style auctions, Pets.com and a web pharmacy called Drugstore.com.