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Short Take: Kmart signs deal with Softbank

Kmart, one of the nation's leading retailers, plans to ink an agreement worth more than $50 million to create a new Internet strategy for itself. Sources familiar with the deal say financial backing for a new and improved Kmart.com will come from a Silicon Valley venture-capital firm, Softbank Technology Ventures, according to a report from Business Week. The new site is scheduled to launch early next year and will be based in Silicon Valley. The site will run be run largely by outside executives.

Kmart, one of the nation's leading retailers, plans to ink an agreement worth more than $50 million to create a new Internet strategy for itself. Sources familiar with the deal say financial backing for a new and improved Kmart.com will come from a Silicon Valley venture-capital firm, Softbank Technology Ventures, according to a report from Business Week. The new site is scheduled to launch early next year and will be based in Silicon Valley. The site will run be run largely by outside executives.