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Feb. 14th, 2001

VerticalGrocer aims to become the leading application service provider (ASP) for the traditional grocery store industry. During its initial stage of development, the company will focus on revenue-enhancing solutions for traditional grocers and outsourcing of their IT activities. Later stages will incorporate cost saving and productivity solutions for grocers. VerticalGrocer's centerpiece application will be its Household Inventory and Shopping Management System, which will allow consumers to track household inventory of groceries, prepare shopping lists and transmit grocery orders in advance for pickup. From reminding customers when they are about to run out of products, to billing and having their orders bagged and ready to pick up, the entire inventory process will be handled by VerticalGrocer and its grocery store partners.

VerticalGrocer seeks to raise $500,000 of equity to fund a test project with a Canadian grocery chain, which will then position VerticalGrocer for further expansion into the Western New York and national markets.


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