NetGrocer Files IPO With SEC
Nonperishable grocery merchant NetGrocer (www.netgrocer.com), New York, filed a registration statement with the Securities and Exchange Commission this week for an initial public offering of shares of its common stock. Until the registration statement becomes effective, the securities cannot be sold and offers to buy them may not be accepted.NetGrocer recently announced a multimillion-dollar deal with America Online that gives it exclusive rights to sell groceries on AOL. In May, NetGrocer signed a deal with television shopping's QVC. Last November, club giant CUC International, Stamford, CT, invested $5 million for a 25 percent stake in NetGrocer just before CUC merged with HFS Corp. to become Cendant Corp.
