RealTime IT News

800.COM Secures $16 Million in Second Round of Financing

Portland, OR-based 800.COM Inc., an online retailer of consumer electronics and home entertainment products, secured $16 million in private funding in a second round of financing.

Trinity Ventures of Menlo Park, CA, which led the round, was joined by other principal investors Asia Pacific Ventures of Menlo Park; Vulcan Ventures of Bellevue, WA; and Stanford University of Stanford, CA. Olympic Venture Partners and CB Capital LLC, first-round investors, also participated in this second round.

"We are very excited about securing such a large round of financing," said Greg Drew, founder and CEO of 800.COM. "This funding reinforces the momentum 800.COM is building as we continue to grow. . ."

"We're very pleased to be one of the principal investors in 800.COM," said Jamie Shennan, general partner of Trinity Ventures. "It has proven its leadership in the consumer electronics space by providing the tools consumers want and need for purchasing these complex products."

The funding will be used to further the company's strategic partnerships and marketing programs, both off-line and online, and to develop infrastructure and pay for a staffing increase. In addition, 800.COM said it will use the funds to expand content and community site offerings, as well as to enhance product lines.

800.COM visitors can browse and search by product category, brand or keyword and can participate in a community of interest by sharing feedback and communicating directly with other users, manufacturers' representatives, 800.COM staff members and other industry experts.