» TRENDING NEWS: Toys ‘R’ Us reportedly preparing to close all stores
The startup has had talks with Amazon.com, Target Corp., Costco Wholesale Corp. and Kroger. The company has a $470 valuation, according to Bloomberg.
Grocers have been interested in partnering with digital companies after Amazon.com purchased Whole Foods for $13.7 billion last year. Online grocery shopping is making major gains, according to the Food Marketing Institute’s U.S. Grocery Shopper Trends 2017 report. The number of shoppers buying some of their groceries online jumped to 11 percent in the first quarter compared to 5 percent in 2016, according to the report.
Kroger has also considered teaming up with Overstock.com Inc. in an effort to compete with online retailers. The New York Post reported the Cincinnati-based grocer may be eyeing a deal with Overstock.com, according to sources. Overstock CEO Patrick Byrne said last year that he plans to sell or reorganize the e-commerce business to focus on blockchain technology. Kroger did not comment on the possible deal.
FIVE FAST BUSINESS READS
• JC Penney cuts 360 jobs in stores, corporate headquarters
• Could Dayton see a hyperloop stop? City included in feasibility study
• Macy's outlet store to open at shopping center in Dayton area
• Check out this $1 million home for sale in Clearcreek Twp.
About the Author