Stripes Group Completes $13 Million Investment in MyWebGrocer
Colchester, VT and New York, NY – August 10, 2009. On Wednesday, August 5, 2009, Stripes Group completed a $13 million equity investment in MyWebGrocer Inc., a rapidly growing and profitable Colchester, VT-based software-as-a-service company providing leading regional and national grocery store chains and consumer packaged goods companies with online commerce and digital media services. As part of their unique platform, MyWebGrocer operates the nation’s largest grocery ad network with over 4 million monthly shoppers.
Dan Marriott, Managing Partner of Stripes Group, will be joining the MyWebGrocer Board of Directors.
About Stripes Group
Stripes Group, founded in 2003 and based in New York, is a private investment firm focused on growth stage minority and majority investments in rapidly growing and profitable internet, software-as-a-service, technology-enabled services and consumer products companies. Stripes Group typically partners with founder-owned and operated companies that have had no prior institutional investors.
For more information on Stripes Group, visit www.stripesgroup.com.
About MyWebGrocer, Inc.
MyWebGrocer, founded in 1999 and based in Colchester, VT, is a founder-owned and managed software-as-a-service company providing online commerce, communications and digital media services to leading grocery store chains and consumer packaged goods companies while also operating the nation’s largest grocery ad network. MyWebGrocer has been profitable nearly since inception and has established itself as the leader in the industry with over 5,000 grocery stores nationwide using their platform and over 60 globally recognized brands, including Kelloggs, Unilever, Nestle and P&G, reaching 4 million monthly shoppers on their industry-leading grocery ad network.