Monterey, Calif. -- Shop.com, a Monterey-based online marketplace that allows people
to shop for thousands of brands of merchandise using one account, said on Monday that
it has raised $25 million in its first round of venture capital funding led by Oak
Investment Partners. The fast-growing company said that it will use the funding to
support marketing and customer service initiatives. Shop.com runs on a platform
developed by Altura International that allows consumers to shop for thousands of
products -- from different merchants at a multitude of locations across the web --
through a centralized personal shopping account. The company said that its site
experienced an increase in web traffic of more than 1000% in 2004.
http://biz.yahoo.com/prnews/050926/sfm076.html?.v=21
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