- May 9, 2000
Competition Intense for MIT's
$50,000 Start-Up Prize
According to the Boston Globe:
"There are few better ways
to launch a company in Boston than to compete in the MIT
$50K Entrepreneurship Competition.
Win it, and you could be like
Direct Hit, the Internet search firm that took first place
in 1998, and was acquired by Ask Jeeves for $506 million
this year. Lose it, and you could be like Akamai Technologies,
a finalist that same year. It didn't win, place, or show,
but Akamai, which expedites the delivery of Web content,
was worth more than $15 billion on the day it went public
In addition to teaching MIT
students about building a company, the event has become
something of a festival of early-stage financing. This
year's student teams started getting peppered with e-mails,
phone calls, and term sheets from investors last month,
when the 48 semifinalists were announced..."
here for the full story. [Link no longer active]
Nickelodeon Closes Ecommerce
Nickelodeon has closed its Red Rocket ecommerce site.
Customers trying to access the site from May 5 on were greeted
with the following message:
"Red Rocket is closing
operations effective 4PM EST. May 5, 2000. If you have
already placed an order it will be fulfilled by Wednesday
May 10, 2000.
If you have any questions about your order please call (888)794-8080 or e-mail
Thank you for your patronage."
"It's no secret that e-tailing
is a tough business that increasingly demands size and
scale to be successful," a Nickelodeon Online representative
told a CNET reporter. "We felt that Red Rocket on
a standalone basis did not have size and scale to be successful."
to May 2000 News Archive