$60m Kozmo.com investment

Amazon invests sixty million dollars in Kozmo.com. The investment will allow Amazon to ship products such as books and compact discs in one hour to residents living in select cities, such as New York and San Francisco. Joe Galli, president and chief operating officer of Amazon reports:

Kozmo.com has developed a strong track record for meeting a unique customer need, and this agreement provides us a one-hour delivery option for the types of products that customers may want immediately.