Kodak Buys Snapfish.com Stake

Eastman-Kodak Co., the world’s biggest photography company, agreed to buy a stake in Internet film and photo processor Snapfish.com for an undisclosed amount to increase digital-picture sales. Snapfish provides free film developing and printing, storing and sharing of pictures online. The closely held company’s other investors include BellSouth Corp., Compaq Computer Corp. and the CMGIVentures arm of venture-capital firm CMGI Inc. Kodak is seeking to increase sales as its traditional markets for film and photofinishing are eroded by digital cameras, which store images electronically. Kodak shares rose $1.31 to close at $60.38 on the NYSE.