Tech Industry

High failure rate seen among dot-coms as Boo.com closes

Analysts predict that Internet companies will start to disappear at an accelerated pace because of the recent stock market malaise and declining interest in e-commerce businesses.

 

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As companies begin feeling a financial pinch, analysts predict that Internet companies will start to disappear at an accelerated pace because of the recent stock market malaise and declining interest in e-commerce businesses.

"Many of these companies have very little time left."

- John Soden, partner in PricewaterhouseCoopers' business recovery services arm

 


Study: U.K. Net companies on thin ice
The majority of U.K. dot-coms could run out of cash within 15 months, according to a new report released by PricewaterhouseCoopers.

DEN tells staff it's out of money
Digital Entertainment Network tells its 150 employees that the Santa Monica, Calif.-based Netcaster has run out of funding and can no longer pay them.

British e-tailer Boo.com calls it quits
The high-profile online designer-wear retailer collapses through lack of funds, becoming Europe's first big dot-com failure just six months after its launch.