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Thursday
- July 13, 2000
Pay to Surf Not Paying Off
According to the San Francisco Chronicle:
"Just months ago, paying
people to surf the Web seemed like such a groundbreaking
business model that Hayward startup AllAdvantage.com snared
$100 million in investment on top of $34 million from last
year, and dozens of copycats popped up in its wake.
But what looked groundbreaking
then seems foolhardy now.
It's no surprise that AllAdvantage
had to withdraw its initial public offering last week,
citing adverse market conditions, said Omar Sacirbey, senior
editor for IPO Reporter. The market is fed up with companies
that are giving away millions of dollars in hopes of earning
money sometime in the future, he said..."
Click
here for the full story.
They're Still Making the
Dot Com Jump
According to Business Week:
"Richard D. Thompson recently
ditched a partner slot at a top Los Angeles entertainment
law firm to join a small online-payment and personal-management
startup. Eric Ober kissed off a job as the president of
the Food Network cable channel to run an online career
site. And W. James Fischer just peeled out of a senior
partnership at Andersen Consulting to head a small online
startup that delivers decision-making tools to Web sites.
A year and a half ago, when
anything associated with the Web still enjoyed a golden
halo, none of these departures by senior execs would have
raised eyebrows. Back then, everyone was jumping ship for
the promise of a big stock-option payoff. But these days,
with the Nasdaq stagnating, Web companies firing staff
left and right, and stock-option prices of many New Economy
execs so far underwater they could be on the Titanic, the
decision to abandon a profitable Old Economy company isn't
so easy...
Click
here for the full story.
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