Editing Webvan (section)

===Financing===
[[Benchmark Capital]], [[Sequoia Capital]], and Borders each invested $3.5 million in the company in a [[Series A round]] in 1997, buying shares for $9.58 each.<ref name=lessons>{{cite news | url=https://www.sfgate.com/bayarea/article/Venture-lessons-in-Webvan-collapse-Financing-2899418.php | title=Venture lessons in Webvan collapse / Financing history a cautionary tale | first=Carol | last=Emert  | work=[[San Francisco Chronicle]] | date=July 15, 2001}}</ref> Sequoia later invested another $50 million, [[Softbank Capital]] later invested $160.3 million, and Goldman Sachs' venture arm invested $50 million.<ref name=lessons/> [[E-Trade]] and [[Yahoo!]] each invested $10 million.<ref name=lessons/> In total, venture capitalists invested more than $396 million in Webvan.

The company raised an additional $375 million in an [[initial public offering]] in November 1999, during the [[dot-com bubble]] that valued the company at more than $4.8 billion.<ref name=stockprice>{{cite news | url=https://www.nytimes.com/1999/11/06/business/webvan-stock-price-closes-65-above-initial-offering.html | title=Webvan Stock Price Closes 65% Above Initial Offering | first=MATT | last=RICHTEL | work=[[The New York Times]] | date=November 6, 1999}}</ref> Up to that time, the company had reported cumulative revenue of $395,000 and cumulative net losses of more than $50 million.<ref>{{cite web | url=https://www.sec.gov/Archives/edgar/data/1092657/000089161899004914/0000891618-99-004914.txt | title=FORM 424(B)(1), Webvan Group, Inc | publisher=[[U.S. Securities and Exchange Commission]] | date=November 5, 1999}}</ref>