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Technology | TECHNOLOGY IN BRIEF

Kozmo.com Seeks $150 Million in IPO

March 22, 2000|Bloomberg News

Kozmo.com Inc. filed to raise as much as $150 million through an initial stock sale. The online home delivery service will disclose the number of shares to be sold and their estimated price in a later filing with the Securities and Exchange Commission. Kozmo.com's largest investor is Amazon.com Inc., which holds a 31.8% stake. New York-based Kozmo.com warned in its filing that it faces several challenges, including attracting a large number of customers willing to place orders of some size. The company, which operates in six cities, said it plans to enter at least 10 additional markets by the end of the year.

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