|
|
E-traders' problems
continue: Webvan goes out of business The U.S. online grocer Webvan has ceased its operations. The California-based trader was finally unable to turn a profit and had to stop burning investors' funds. Two thousand workers will now lose their jobs in Chicago, Los Angeles, Orange County (CA), Portland (OR), San Diego, San Francisco Bay, and Seattle. Reacting to these news, Dutch retail multinational Ahold says that its online grocery operation Peapod is doing fine. The company explains that this is due to Peapod using existing Ahold infrastructure, while Webvan had to build up everything from zero. |
