Cooking.com (www.cooking.com), the premier destination for people who cook and enjoy gourmet food, today announced it has closed a $35 million round of private financing.
idealab!, which has assisted Cooking.com since its inception, led the funding. The round also included commitments from Pyramid Technology Fund and Hikari Tsushin. Cooking.com will use the capital towards accelerating market penetration, expanding its product assortment and content offerings and enhancing its operations. To date, Cooking.com has received $90 million in private funding.
“Cooking.com is a leader among online culinary sites, and we are excited to enable the company’s efforts to build and enhance their site,” said Bill Gross, founder and chairman of idealab!. “We are pleased to have Cooking.com in our network of companies and are encouraged by the strength of their management team, strategic alliances and market opportunity.”
Founded in March 1998, Cooking.com has established category leadership among culinary sites. Offering more than 5,000 SKUs, the online retailer maintains one of the broadest product selections of cooking-related items on the Web. Cooking.com has developed numerous partnerships with established market leaders such as America Online, Martha Stewart Living, Omnimedia Inc. and Starbucks Coffee Company. In addition, Cooking.com was recently ranked third by Fortune magazine in an independent study rating the performance of Internet retailers in all categories, during the 1999 holiday season.
“At a time when investors are taking a long, hard look at their investment opportunities, our continued ability to secure funding from both existing and new equity investors attests to the strong business fundamentals on which our company is based,” said David Hodess, president and chief executive officer of Cooking.com. “This round of financing enables the company to continue operational enhancements that will make our high level of customer service even better.”
Cooking.com is a leading online retailer of best-of-brand cooking-related products and specialty foods. The site offers around-the-clock accessibility to more than 5,000 product offerings from top brands such as All-Clad, Calphalon, Cuisinart, KitchenAid, Krups, Henckels and Wusthof. In addition, Cooking.com provides thousands of recipes, cooks’ tips, feature articles and menus planners from renowned chefs, cookbook authors and restaurateurs, creating a unique destination for people who love to cook and enjoy gourmet food. Cooking.com maintains an exclusive relationship with Burt Wolf, one of the nation’s best known experts on food and cooking equipment, who contributes his unique views on the latest cooking products, recipes from his worldwide travels and special occasion menus. Cooking.com’s firm commitment to customer service ensures individual attention and a hassle-free shopping experience for every guest to the site.