More UK dot-coms come to the end of the road
Published: 23 Nov 2000 16:25 GMT
Dot-com failures are continuing at an increasing pace, with one study estimating roughly one Internet startup closure per day. And while Europe may have latched onto the Net bandwagon later than the US, it hasn't had to wait long to join in the bloodbath.
The latest closures in the UK include uTravel, Easier and PetsPyjamas, while start-up stars such as Freeserve (quote: FRE) and lastminute.com have watched their share prices drop ever lower.
In the mean time, there are some bright spots. For example Netimperative (www.netimperative.co.uk), one of the earliest UK dot-coms to call in the receivers, has relaunched after restructuring and re-investment, with all of its original staff.
Some of the most recent dot-com troubles:
Boxman
Music Web site: Privately-owned site sought voluntary liquidation in October after cancelling flotation.
Britannica.com
Online encyclopaedia: Online arm of Encyclopaedia Britannica laid off 25 percent of workers, about 75 staff, in November.
Easier.co.uk
Property Web site: Privately held site liquidated business in November, but kept market listing as a cash shell.
First Tuesday
Networking organisation: The company, which helps dot-com entrepreneurs mix with others of their ilk, laid off several staff as part of "focusing on core activities".
Koobuycity.com
High-speed delivery site: The French site, which promised one-hour delivery, offered itself for sale in late November after failing to raise more venture capital.
PeopleNews.com
Celeb gossip site: The site, launched in September by former Tatler editor Jane Proctor, laid off two editorial staff and ended contracts with several IT workers in November. The site will need further funding in Q2 2001.
PetsPyjamas.com
Pet accessories site: Liverpool-based site ran out of funds after £15m advertising campaign and closed up shop in late November.
TheStreet.co.uk
Financial site: Ailing parent TheStreet.com shut down its UK branch and laid off 20 percent of its US-based staff in November.
uTravel.co.uk
Travel siteP: Parent company United News & Media shut down the site in late November, just over a year after launch, due to tough competition from rivals such as Expedia and Lastminute. However, United News & Media hopes to keep the 18 staff.
whereonearth.com
Location-based services: The privately-owned site, which provides location-based services and software, postponed its flotation on the London Stock Exchange in November due to "volatile conditions".
wowgo.com
Community site: Wowgo.com, created by Unilever as a community for teenage girls, folded in November.
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