It may not be long before the question is settled. Another stock offering is impossible at this time. An offering of high-yield bonds would be prohibitively expensive. Not to mention the hundreds of millions more Webvan will need to meet its eventual goal of about 26 distribution centers across the U.S. in 2003. Shaheen is considering several options, including slowing expansion until the early distribution centers become profitable or selling a stake in Webvan to another, related business.
Webvan executives rule out partnering with a traditional grocery chain.
Webvan executives don't talk like people in desperate straits. The company has built distribution centers in Oakland, Calif., to deliver in the San Francisco and Sacramento area, and in Atlanta. This is bigger than FedEx. Beirne and Borders exuded brashness from the beginning. But that was OK, because we were confident.