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A Tale of Two Webvans...
from the hmmm... dept
Two stories just came out concerning Webvan, but with very different takes. BusinessWeek has a story about George Shaheen and the decision to buy HomeGrocer and how that might help them last a little longer before running out of money (how combining two non-profitable companies does this is not entirely clear). Meanwhile, Bloomberg has an article basically saying Webvan isn't likely to survive at all. Of course, the fact checkers at Bloomberg couldn't be bothered to figure out Webvan is in "Foster City" and not "Forest City". Anyway, someone once did the math for me using Webvan's own projections which suggested it would take the company 60 years to reach profitability. That's tough.
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