Pets.com Raises $50 Million

Pets.com Monday announced it has raised
$50 million from e-tailer Amazon.com and venture capital firms Bowman Capital and Hummer
Winblad Venture Partners.

This second round of financing will be used for
marketing and branding efforts, infrastructure building, and company growth.

“We are running hard and fast to make Pets.com the best possible customer
experience, from product selection to customer service,” said Julie
Wainwright, Pets.com’s chief executive officer. “This significant investment allows us to
support our plans to build an enduring, customer-focused company.”

Pets.com recently brought its entire shopping process in house, from order
fulfillment to customer service. The company has opened its first
distribution center, hired a customer service staff and added a
toll-free customer service phone number.

“Whether you’re shopping for your dog, cat or chinchilla, or just looking
for a ferret hammock, Pets.com makes it easy to do something nice for your
pet,” said Jeff Bezos, founder and CEO of Amazon.com.

Matthew Cowan, investment partner at Bowman Capital, cited Pets.com’s
industry expertise and strategic partnership with Amazon.com as motivating
factors for the investment.

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