Kozmo.com nets $28 million in financing
The company, which delivers online purchases to the buyer's doorstep, will announce tomorrow that it has secured $28 million in its first round of financing.
Its financiers include Flatiron Partners, Oak Investment Partners, Chase Capital Partners, Hambrecht & Quist, Thomas Weisel Partners, and New York City Investment Fund, among others.
The financing is expected to be announced tomorrow.
The round of funding comes as Kozmo is expanding its delivery services to other cities. The company recently expanded into San Francisco and Seattle, and plans to serve 30 cities by the end of next year.
Kozmo sells new release and popular-title books, CDs, videos, DVDs, games, and snack food on its Web site. After users order their purchases from the site, the company says it will deliver them under an hour.