SOFTBANK Invests Additional $40 Million in BUYCOMP.com
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The investment, which represents a 9.9 percent ownership interest in BUYCOMP.com, was completed Sept. 30. In August 1998, SOFTBANK Technology Ventures, an affiliate of SOFTBANK, provided an initial and separate investment of $20 million representing a 10.25 percent ownership stake in BUYCOMP.com.
Based on the combined capital, BUYCOMP.com said it is now valued at $400 million. The Web retailer provides detailed product information and comparisons of more than 30,000 computer hardware and software products and offers guaranteed low prices.
"We have proven that we are the right distribution and advertising partner for companies that sell their products online, as well as a great resource for consumers," said Scott Blum, BUYCOMP.com founder and CEO. "Our relationship with SOFTBANK allows us to expand our business, based on our proven business model."
SOFTBANK Holdings is the holding company for all of SOFTBANK Corp.'s U.S.-based activities. Its major operating companies include Ziff-Davis, Kingston Technology Co. and UTStarcom.
Separately, SOFTBANK, along with Rho Management and Healthcare Ventures, are investing $10.9 million in GreenTree Nutrition, an online wellness center and vitamin retailer. It's the second round of financing for the company. To date, GreenTree has raised $14.4 million.