Amazon Swallows More Pets

Tue., June 15, 1999

Amazon.com Inc. said it increased its ownership in Pets.com Inc. to 54 percent under a new financing agreement with the online pet retailer.

The Seattle-based online bookseller - along with Hummer Winblad Venture Partners and Bowman Capital Management LLC - agreed to pump a combined $50 million into Pets.com, continuing a trend among online companies to try to grab a piece of the $23 billion pet-products market, Dow Jones News Service reported.

Bowman Capital is an institutional investor specializing in technology companies. Hummer Winblad is a venture capital fund.

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Amazon Swallows More Pets

Jesse Tinsley

Jim Meehan

Molly Quinn

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