Short Take: Petopia.com receives $66 million investment

Petopia.com, which sells pet-related products online, said it has received a $66 million investment round from two firms: Groupe Arnault, an affiliate of European consumer products giant LVMH Moet Hennessey Louis Vuitton (LVMH), and PETCO, one of the nation's largest pet supply retailers. Petopia.com's total investments add up to more than $79 million, the company said, adding that an agreement with PETCO will provide nationwide distribution capabilities.