Stamps.com closing B2B unit
Besieged e-tailer Stamps.com said Tuesday it is closing its majority-owned business-to-business subsidiary EncrypTix. ExcrypTix's board of directors voted to liquidate its assets and cease operations after the company was unable to secure additional funding, Stamps.com said in a statement. Created in November 1999, EncrypTix employed Stamps.com's technology, which companies could use to distribute tickets, gift certificates, coupons and travel boarding passes over the Internet to consumers who could print the documents.
Greg Sandoval Former Staff writer
Greg Sandoval covers media and digital entertainment for CNET News. Based in New York, Sandoval is a former reporter for The Washington Post and the Los Angeles Times. E-mail Greg, or follow him on Twitter at @sandoCNET.
Besieged e-tailer Stamps.com said Tuesday it is closing its majority-owned business-to-business subsidiary EncrypTix. ExcrypTix's board of directors voted to liquidate its assets and cease operations after the company was unable to secure additional funding, Stamps.com said in a statement. Created in November 1999, EncrypTix employed Stamps.com's technology, which companies could use to distribute tickets, gift certificates, coupons and travel boarding passes over the Internet to consumers who could print the documents.