Borders Founder Opening Internet Grocer

from the good-luck-to-you dept

Louis Borders, who founded Borders Bookstores is starting an Internet company called Webvan to sell groceries online. The article says he’s raised $120 million already. How’s that for seed funding? While I guess it’s good that he has a deep pool of cash to work from, he certainly seems a little cocky in the article. This strikes me as interesting for two reasons: Borders, the company, couldn’t put together an internet strategy, though their life might depend on it, and also every online grocer has been failing. I guess we’ll see what $120 million and cockiness can do…

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