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Internet

Online event-planning service folds

Dot-com carnage claims another victim as online event coordinator TimeDance.com goes out of business.

Dot-com carnage claimed another victim as online event coordinator TimeDance.com went out of business.

The site launched one year ago, offering visitors a way to plan events and invite participants. While surviving competitor Evite has focused on consumers, TimeDance launched with the intention of targeting both business customers and consumers.

TimeDance closed last week after failing to secure a second round of funding and, subsequently, a buyer.

"Our site was a spectacular success," said Walter Colsman, founder and vice president of product. "We had a compelling user interface that users really liked. We had half a million registered users and were doubling every month. But the VC industry really turned away from (business-to-consumer) plays, and that's where our product was."

The Redwood City, Calif.-based start-up in November won funding from Institutional Venture Partners and the Mayfield Fund to the tune of $9 million. Special report: End of the BeginningAt its peak, TimeDance employed 38 people.

Colsman said some companies had a keen interest in buying TimeDance, but recent stock market plunges discouraged potential suitors.

While the TimeDance site is still online, visitors attempting to schedule events receive the following message: "Regretfully, TimeDance.com will no longer be available after Friday, June 30, 2000. New events cannot be scheduled after Wednesday, June 28, 2000."