RealTime IT News

StoreRunner Secures $13M Investment from Compaq

Compaq Computer Corp. invested $13 million in e-commerce infrastructure company StoreRunner Inc., and existing shareholders invested an additional $5 million.

Compaq also said it will work with StoreRunner to deliver integrated solutions ranging from ISP service to real-time inventory control systems to retailers both large and small.

The StoreRunner Network has distribution agreements with ISPs, portals and other Web sites operations, including GTE SuperPages, Juno, Free Lotto and DoubleClick's network of sites and claims a reach of 35 million Internet users.

"Selecting a platform and services partner is essential to scaling the Internet's most comprehensive shopping infrastructure," said Dale Sundby, chairman and chief executive officer of StoreRunner. "The Compaq partnership will turbo-charge our efforts to place the StoreRunner Network at the fingertips of all Web users."

Compaq joins other investors in the company that include CBS, Polaris Venture Partners, TMCT Ventures and Philip Anschutz.

"Compaq developed a strategic relationship with StoreRunner because we believe they are an important player in the 'new economy'," said Mary McDowell, vice president and general manager of the Industry Standard Server Group at Compaq.