Online grocery competition to heat up

One of the country’s oldest online grocers just secured a major cash infusion to help it expand its services.



FreshDirect has received a $189 million investment, led by JPMorgan Asset Management, that will be used to launch its grocery delivery service in more cities, to expand new business units and incubate others, reported RECode.



Based in New York City, FreshDirect has focused its efforts on the New York metro area and Philadelphia region so far. The company has more than $600 million in annual revenue, and has been cash-flow positive since 2010, according the report.



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