Kozmo.com









































Kozmo.com
Industry Retail
Fate Liquidation
Founded 1998
Defunct 2001
Headquarters
New York City, United States
Key people
 Joseph Park
Yong Kang
Products
Online store, delivery service

Kozmo.com was a venture-capital-funded online company that promised free one-hour delivery of "videos, games, dvds, music, mags, books, food, basics & more"[1] and Starbucks coffee in several major cities in the United States. It was founded by young investment bankers Joseph Park and Yong Kang in March 1998 in New York City, and was out of business by April 2001. The company is often referred to as an example of the dot-com bubble.[2] On January 2013, the brand was bought by Yummy.com and announced that they would relaunch soon. On March 2018 Kozmo was relaunched as a warehouse club.[3]




Contents






  • 1 Model


  • 2 History


  • 3 Post-Kozmo


  • 4 See also


  • 5 References


  • 6 External links





Model


Kozmo had a business model built around the delivery of small purchased goods within an hour by bicycle, car, truck, or public transportation for no delivery fee.[4] The model was criticized by some business analysts, who pointed out that one-hour point-to-point delivery of small objects is extremely expensive and were skeptical that Kozmo could make a profit as long as it refused to charge delivery fees.[5] The company countered in part that, in their target markets, savings due to not needing to rent space for retail stores would exceed the costs of delivery.



History


Kozmo.com's headquarters was located in New York City. According to documents filed with the Securities and Exchange Commission, in 1999 the company had revenue of $3.5 million, with a resulting net loss of $26.3 million.[6] The company raised about $250 million, including $28 million from a group of investors in 1999 which included Flatiron, Oak and Chase[7] and $60 million from Amazon.com in 2000.[8] It entered a five-year co-marketing agreement with Starbucks in February 2000, in which it agreed to pay Starbucks $150 million to promote its services inside the company's coffee shops.[9] This included up to 500 Starbucks locations to host drop-boxes in-store for the return of videos.[10] Kozmo.com ended its deal in March 2001 after paying out $15 million. In July 2000, at the height of its business, the company operated in Atlanta, Chicago, Houston, San Francisco, Seattle, Portland, Boston, New York, Washington, D.C., San Diego and Los Angeles.[4] Kozmo had filed an IPO with Credit Suisse First Boston, but it never went public.[11]


The company was the subject of an April 2000 report by MSNBC.com reporters Brock Meeks and Elliot Zaret claiming that Kozmo was redlining sections of the cities it served that were populated primarily by African Americans. Kozmo denied that race played any part in its decision on what zip codes to deliver to, asserting that they choose market areas based primarily on Internet penetration rates.[12] The Equal Rights Center (ERC), the Washington, DC-based civil rights group referenced in the article, pursued the company about the allegations. Later in the year, the ERC announced a joint initiative with Kozmo and stated that "Kozmo's initial service area was not motivated by racial discrimination," and Kozmo committed $125,000 toward increased Internet availability for underserved communities.[13]


While popular with college students and young professionals,[14] the company failed soon after the burst of the dot-com bubble, laying off its staff of 1,100 employees and shutting down in April 2001.[15] Employees of the company in many of their 18 locations nationwide found out about the shutdown only after arriving to work their scheduled shifts, and finding the doors locked. Those locations, as well as their Memphis distribution center, were soon liquidated by a veteran entertainment wholesaler from Florida.[citation needed]



Post-Kozmo


The documentary film e-Dreams, released in June 2001, depicts the growth and fate of the company.
In April 2005, former CTO Chris Siragusa launched MaxDelivery, a Kozmo-like service in downtown Manhattan specializing in the delivery of food, wine, DVDs and essentials, and is still in business as of November, 2018.[16][17]


Joseph Park, former co-founder and CEO, went on to co-found Askville in 2006, which is now part of Amazon.com. Park left Amazon.com in June 2009 to become president of BibleGateway.com, which is owned by Zondervan, a Christian publisher that is a unit of HarperCollins (which is owned by News Corp.).[18]


Yong Kang, former co-founder, returned to Wall Street, and as of June 2009 listed his occupation as investment banking at Lehman Brothers (now Barclays Capital).[19]


Some grocery-store delivery chains offering online ordering with same-day delivery survived the dot-com bust, and in the 2010s various competing same-day delivery services started in larger U.S. cities.



See also



  • Dot-com company

  • FreshDirect


  • Webvan online grocer

  • Urbanfetch

  • Askville



References





  1. ^ "Kozmo.com Splash page". Kozmo.com. Archived from the original on 2000-04-08. Retrieved 2010-07-10..mw-parser-output cite.citation{font-style:inherit}.mw-parser-output q{quotes:"""""""'""'"}.mw-parser-output code.cs1-code{color:inherit;background:inherit;border:inherit;padding:inherit}.mw-parser-output .cs1-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/6/65/Lock-green.svg/9px-Lock-green.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-lock-limited a,.mw-parser-output .cs1-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/d/d6/Lock-gray-alt-2.svg/9px-Lock-gray-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Lock-red-alt-2.svg/9px-Lock-red-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration{color:#555}.mw-parser-output .cs1-subscription span,.mw-parser-output .cs1-registration span{border-bottom:1px dotted;cursor:help}.mw-parser-output .cs1-hidden-error{display:none;font-size:100%}.mw-parser-output .cs1-visible-error{font-size:100%}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration,.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left,.mw-parser-output .cs1-kern-wl-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right,.mw-parser-output .cs1-kern-wl-right{padding-right:0.2em}


  2. ^ Wahlgren, Eric (March 20, 2001). "Legacies of the Dot-Com Revolution". Business Week. Retrieved 2007-07-17.


  3. ^ Melton, James (March 23, 2018). "Online grocery pioneer Kozmo.com returns as a warehouse club". Digital Commerce 360. Retrieved 2018-04-05.


  4. ^ ab Wu, John C. (November 1, 2001). "Anatomy of a Dot-Com". Supply Chain Management Review. Archived from the original on August 21, 2004. Retrieved 2007-07-17.


  5. ^ Dukcevich, Davide (June 22, 2000). "Kozmo.com Pedaling To The Precipice?". Forbes. Retrieved 2010-04-16.


  6. ^ "Kozmo Com Inc SEC filing · S-1 · On 3/20/00". SECInfo.com. March 20, 2000. Retrieved 2008-01-07.


  7. ^ "Kozmo.com Receives $28 Million from Flatiron, Oak Investment, Chase Capital and Others". Business Wire, Press Release. October 13, 1999. Retrieved 2010-03-11.


  8. ^ Greenspan, Sharon (March 20, 2000). "Press Release: Amazon.com Announces Investment..." Amazon.com. Retrieved 2007-07-17.


  9. ^ Wilcox, Joe (February 14, 2000). "Kozmo.com sees more sales in Starbucks deal". News.com. Retrieved April 16, 2010.


  10. ^ "Kozmo.com will pay Starbucks $150M". BizJournals.com. February 14, 2000. Retrieved April 29, 2015.


  11. ^ Sandoval, Greg (February 29, 2000). "Kozmo may deliver itself to the public". News.com. Retrieved 2010-04-16.


  12. ^ Zaret, Eliot; Meeks, Brock (April 11, 2000). "Kozmo's digital dividing lines". MSNBC.com. Archived from the original on December 17, 2000. Retrieved 2010-03-11.


  13. ^ "Kozmo.com and Equal Rights Center Announce Initiative to Bridge the Digital Divide". Business Wire. December 5, 2000. Retrieved 2010-03-11.


  14. ^ Casselman, Ben (April 17, 2001). "Kozmo.com Website Goes Out of Business". Columbia Spectator. Archived from the original on 2010-07-10. Retrieved 2007-07-17.


  15. ^ Sandoval, Greg (April 11, 2001). "Kozmo to shut down, lay off 1,100". News.com. Retrieved 2010-04-16.


  16. ^ Cantrell, Amanda (September 14, 2005) "Rebirth of Kozmo.com, kind of". CNN, CNNMoney.com. Retrieved 2010-04-16.


  17. ^ Metz, Rachel (July 13, 2005). "Diapers Revive Dead Dot-Com". Wired. Archived from the original on 2005-07-13. Retrieved 2016-12-16.


  18. ^ Engleman, Eric (September 29, 2009). "Kozmo.com founder Park leaves Amazon for Bible Gateway". TechFlash. Retrieved 2010-04-28.


  19. ^ Henricks, Mark (May 29, 2008). "Where are they now: Kozmo.com". The Industry Standard. Archived from the original on June 1, 2008.




External links




  • Archived versions of kozmo.com at the Internet Archive (Original Kozmo.com site predates June 1, 2001).


  • Kozmo.com's Challenge: Turning the Last Mile Into the Green Mile. Katherine Hobson, TheStreet.com, March 30, 2000.


  • Making Sense (and Art) of the Dot-Com Crash. Stacy Cowley, PC World, IDG News. January 21, 2002.




Comments

Post a Comment

Popular posts from this blog

Information security

Image
This article is part of a series on Information security Related security categories Internet security Cyberwarfare Computer security Mobile security Network security Threats Computer crime Vulnerability Eavesdropping Malware Spyware Ransomware Trojans Viruses Worms Rootkits Bootkits Keyloggers Screen scrapers Exploits Backdoors Logic bombs Payloads Denial of service Defenses Computer access control Application security Antivirus software Secure coding Secure by default Secure by design Secure operating systems Authentication Multi-factor authentication Authorization Data-centric security Encryption Firewall Intrusion detection system Mobile secure gateway Runtime application self-protection (RASP) v t e Information security , sometimes shortened to InfoSec , is the practice of preventing unauthorized access, use, disclosure, disruption, modification, inspection, recording or destruction of information. Th...
Read more

Lambak Kiri

Image
For Lambak Kiri public housing area, see Lambak Kiri Landless Indigenous Citizens' Housing Scheme. Village in Brunei-Muara, Brunei Lambak Kiri Village Location in Brunei Coordinates: 4°59′26″N 114°57′04″E  /  4.990472°N 114.951114°E  / 4.990472; 114.951114 Coordinates: 4°59′26″N 114°57′04″E  /  4.990472°N 114.951114°E  / 4.990472; 114.951114 Country Brunei District Brunei-Muara Mukim Berakas A Government  • Village head Hamdani Omar Postcode BB1214 Lambak Kiri is a populated place in Brunei-Muara District, Brunei. It is officially a village subdivision under Berakas A, a mukim in the district. Lambak Kiri may also refer to the greater area which includes the Lambak Kiri public housing area of the Landless Indigenous Citizens' Housing Scheme (Malay: Skim Tanah Kurnia Rakyat Jati ), although the latter is a separate subdivision. Contents 1 Name 2 Administration 3 See also 4 References Name ...
Read more

章鱼与海女图

Image
本条目 可参照英語維基百科相應條目来扩充 。 （2014/5/25） 若您熟悉来源语言和主题，请协助参考外语维基扩充条目。请勿直接提交机械翻译，也不要翻译不可靠、低品质内容。依版权协议，译文需在编辑摘要注明来源，或于讨论页顶部标记 {{Translated page}} 标签。 本条目 需要擴充。 （2013年8月15日） 请協助改善这篇條目，更進一步的信息可能會在討論頁或扩充请求中找到。请在擴充條目後將此模板移除。 《 章鱼与海女 》（日语： 蛸と海女 ／ たことあま   Tako to ama ）是一幅由日本畫家葛饰北斋创作的浮世绘，出自1814年（文化4年）出版的艳本《喜能会之故真通》（日语： 喜能会之故真通 ／ きのえのこまつ   Kinoe no Komatsu ）。畫中有兩隻章鱼以觸手攻擊一名採珠的海女，並進行擬似戀獸癖的交媾行為。作品尺寸为6½" × 8¾" （16.51 cm × 22.23 cm）。 [1] 在此之前的类似作品还有北尾重政的艳本《謡曲色番組》及勝川春潮的艳本《艳本千夜多女志》等，有被北斋作为参考的可能性。 《章鱼与海女图》有不同英文翻译，一般称The Dream of the Fisherman's Wife，又作Girl Diver and Octopi、Diver and Two Octopi，Richard Douglas Lane称其为 Girl Diver and Octopi [2] ，Mathi Forrer 称其为 Pearl Diver and Two Octopi [3] ，Danielle Talerico 称其为 Diver and Two Octopi 。 [4] 目录 1 作品介绍 1.1 画中对话 1.2 解释 2 评价 3 影响 3.1 模仿作品 4 另见 5 参考来源 6 外部連結 作品介绍 画中对话 原文 译文 大蛸： いつぞハいつぞハとねらいすましてゐたかいがあつて、けふといふけふ、とうとうとらまへたア。てもむつくりとしたいいぼぼだ。いもよりハなをこうぶつだ。サアサア、すつてすつてすいつくして...
Read more