Nashville Web Grocer Gets Cash Infusion
NASHVILLE -- Plumgood Food, a relatively new Internet grocer here, has reportedly received $1 million of investment capital and said it now plans to move to a larger warehouse and expand its business.
Within the next six months Plumgood will move from its warehouse near downtown Nashville to a 30,000-square-foot space, Eric Satz, owner and c.e.o, told the Nashville Business Journal.
The two-year-old online grocery and delivery service raised $800,000-plus in capital in 2005, and another $1 million last year. Satz, who declined to name his most recent investors, said the company has yet to turn a profit, but he expects that to change by the first quarter next year.
Plumgood claims to have a regular customer base of 2,500. Its average customer spends $75 to $105 per order. Satz said he is designing the company for duplication in other cities.
Within the next six months Plumgood will move from its warehouse near downtown Nashville to a 30,000-square-foot space, Eric Satz, owner and c.e.o, told the Nashville Business Journal.
The two-year-old online grocery and delivery service raised $800,000-plus in capital in 2005, and another $1 million last year. Satz, who declined to name his most recent investors, said the company has yet to turn a profit, but he expects that to change by the first quarter next year.
Plumgood claims to have a regular customer base of 2,500. Its average customer spends $75 to $105 per order. Satz said he is designing the company for duplication in other cities.