Webvan hopes to do business in 26 cities by 2003. Heavyweight business experience in company leadership. Webvan is the brainchild of Borders Group Inc. founder Louis Borders, who stepped down as chairman in September 1999. CEO George Shaheen, formerly CEO at Andersen Consulting, took over Borders' duties. Webvan guarantees its groceries will reach customer's door within a 30-minute window 24 to 48 hours after the online order is placed.
Prices are comparable to neighborhood grocery stores.
Making a profit and luring investors, particularly as stock plummets and competitors file for bankruptcy. Company was not operating in second quarter of 1999. Analysts say no online retailer has found the silver bullet to successful e-commerce, but there are a few that have innovative Web sites, strong customer service and good business plans. But many other e-tailers are gasping for life. Several have watched their stock plummet over the last year as investors, who eagerly threw money at dot-coms in 1999, grew tired of watching the Web companies' bleeding bottom lines and pulled out their money.