Business Services Industry
Face-off in Alley;Lawsuit threatens way of doing business.
Crain's New York Business, October, 1999 by birger, jon
Last March, Joseph Park got the kind of phone call most entrepreneurs only dream about. A hedge fund run by two former Goldman Sachs & Co. money managers had called to express interest in investing in Mr. Park's on-line video store, Kozmo.com Inc. Mr. Park and his partner, Yong Kang, quickly set up a dinner meeting with the principals of the hedge fund, Integrity Capital Management, and later gave them a tour of Kozmo's Union Square headquarters.
A deal seemed to be at hand. "Yong and I really enjoyed hanging out with you guys yesterday night," Mr. Park wrote in an e-mail to Ross Stevens, chief executive of the now-defunct Integrity. Included with the e-mail was a copy of Kozmo's business plan. It's an e-mail Mr. Park now wishes he had not sent. Integrity...
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