Ziff Asset Management LP of New York was revealed as the unnamed investor that earlier this week bought 10 million shares of online pharmacy Drugstore.com Inc. for $26 million, according to a Securities and Exchange Commission filing, reported the Puget Sound Business Journal. Early last week, the company said only that the investor was a New York-based private investment partnership.
Ziff agreed to not sell the shares for at least a year.
Drugstore.com said it planned to use the money for general corporate purposes, including investments in marketing and technology.
The Bellevue, WA company reported a net loss of $5.4 million for the fourth quarter, compared to $2.4 million the year before (Direct Newsline, Feb. 2).
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