If I had to guess (and this is based on nothing but conjecture), an amount like that for an early stage e-commerce play is to be used for some sort of capital expansion. Perhaps somebody is going to buy up RadioShack stores or Sears leases.

Harry's Shaving Products is another one that comes to mind raising this much money early-stage, and they've pumped all nine digits of their round into a German steelmaker.

From the large investor perspective this provides some sort of fallback scenario, as worst-case scenario you're left with some commercial real-estate portfolio.