BlueLight To Receive $80 Million More In Financing

KMart Corp., Softbank Venture Capital and Softbank Capital Partners (units of Japanese Internet investor Softbank Inc.) invested $80 in Kmart's online subsidiary BlueLight.com.

KMart, BlueLight's majority owner, will invest $55 million, to continue developing the online shopping site. The dotcom recently reached the three-million-subscriber market for its free Internet service.

The subsidiary was launched last December with $62.5 million in funding from Softbank and Martha Stewart Living Omnimedia Inc.