Vulcan Funds E-Commerce Company

Vulcan Ventures Inc., the investment company headed by billionaire Paul Allen, is funding a new electronic commerce company that is developing a shopping service for the Internet, cable TV and other emerging media. Bellevue, Wash.-based Mercata Inc. is developing a Web site and shopping service that will let consumers shop on the Internet and cable TV for consumer electronics, home appliances, tools, watches and sporting goods. The closely held company will offer its services, initially on the Internet, beginning in the second quarter. Allen has invested billions of dollars in companies involved with emerging technology.