In its second-largest acquisition, Amazon buys the company for $970 million.
Massachusetts-based online grocer HomeRuns.com has ceased operations.
Webvan Group Inc. has some company. Only three days after Webvan shut its doors, online grocer HomeRuns.com, which has been on the web since 1996, abruptly ceased operations. Burlington, MA-based HomeRuns issued a statement on Thursday stating that it was unable to raise the capital it needed to underwrite its expansion plans. It started operations as a part of Hannaford Bros. Co. supermarkets then spun off into a separate operation. Late last year it began expanding into Washington, D.C. Just a few weeks ago, a HomeRuns executive said the company was heading toward profitability. Executives are not answering the phones at HomeRuns’ headquarters.