Online retailer Amazon.com agreed to take a 50% stake in Pets.com. Amazon.com and venture capital company Hummer Winblad Venture Partners was an earlier investor in Pets.com. Amazon.com said the transaction is expected to close in early April. In related news, Amazon.com, plans to launch an auction service in an effort to diversify its core product line and compete with eBay in online auctions. Details of the launch were not disclosed.
Copyright March 1999, Crain Communications Inc.