The Ashes

Technology, Science and other news
August 12, 2009

MyWebGrocer Raises $13 Million Series A

Posted by : admin
Filed under : General

About 10 years ago, MyWebGrocer officially launched.  But this year they decided to raise a first round of funding.  It is unique for a company that has existed for a decade to raise funding at this stage.  MyWebGrocer raised a total of $13 million in Series A from the Stripes Group.  The Stripes Group is a private equity firm based in New York.

The investment is considered late stage.  MyWebGrocer is profitable.  Investment banking company Montgomery & Co. was also involved in the deal. This indicates that MyWebGrocer may eventually have an IPO.  The initial funding needed for getting MyWebGrocer off the ground was provided by founder Rich Tarrant.  MyWebGrocer currently operates over 5,000 grocery stores in the country.

MyWebGrocer runs the websites for grocery stores.  They also sell the advertising for consumer goods across the websites.  Altogether, MyWebGrocer reaches 4 million shoppers.  MyWebGrocer makes money from advertising revenue sharing and fees paid for running websites for grocery stores.

[via TechCrunch]

Tags :

No Comments

(will not be published) (required)
(opitional) EN ES IT DE PT CZ FR RU
September 2021




There are many online poker site where you can play but at you can play the poker games with all the knowledge you need related to the game with the poker school available in both the English and Chinese language.

Super Casino

Now you can bet on any sports and any sporting events from all the comfort from your home. Bet770 allows you to bet on any events and match with in just 3 clicks. They also offers great odds on football betting for every premier and champions league match. Get £50 free in bets when you register.

Bingo770, offering best online bingo games with £7.70 free no deposit Bonus!