The U.S. online shopping world's biggest day is here, but will strong web sales on Black Friday and Thanksgiving cut into Cyber Monday's take?
Troubled Internet grocer Peapod, Skokie, Ill., is weighing takeover offers from United Parcel Service, rival HomeGrocer.com and Netherlands-based Royal Ahold, according to CNET news. Earlier this month, Peapod suffered a one-two punch when investors withdrew an anticipated $120 million in funding after CEO William Mallory resigned for undisclosed health reasons. Peapod, which has steadily lost money since its 1989 startup despite building a customer base of 100,000 in eight metropolitan markets, had counted on the financing for ambitious expansion plans. Last year, Peapod lost $28.5 million on revenue of $73.1 million.