Feeds

QXL knocks £500m off Ricardo price tag

And they don't want Pfeiffer on the board

  • alert
  • submit to reddit

Choosing a cloud hosting partner with confidence

QXL.com has knocked around 75 per cent off its original buyout price for German auction house ricardo.com. QXL has offered 34 QXL shares for each Ricardo share, valuing the company at £171.2 million. Back in May it offered 42.6 QXL shares for each ricardo share - putting a £668 million price tag on the company.

And ex-Compaq head Eckhard Pfeiffer - a Ricardo board member - will no longer join QXL's board.

Meanwhile, Ricardo warned shareholders to expect poorer results in Q4 to the end of June.



Financial news web site TheStreet.com has laid off eight employees in its analysts-ranking division - which literally just ranked industry analysts. This is about three per cent of the company's staff.



According to the The Standard CEO Tom Clarke wrote an internal email which said the amount of resources needed to make the service work did not justify continuing it. "TheStreet.com is focused more than ever on driving profitability. This is the single mission for this firm as we battle to win in our space and defy those who think we will not make it," he wrote.



Internet search engine and directory Hoojit is launching an online guide to British hotels. Some 20,000 hotels have stumped up £100 each to get listed. Hoojit was founded by former Telinco boss Chris Matthews.




Online financial content company GlobalNet is to merge with American Net services company Telescan. GlobalNet will issue two shares for every one of Telescan. The combined company is valued at £220 million and will be called GlobalNetFinancial. One of GlobalNet new shareholders will be M$ founder Paul Allen, who currently owns 8 per cent of Telescan.




Another day, another redundant Net workforce. This time it's Healtheon/WebMD. The company runs an online Web community for people involved in healthcare. It refused to say how many staff it was laying off. CEO Steve Grant said of course that he still had plenty of money and the cuts were part of its strategy to make a profit by 2002. Healtheon/WebMD lost $129 million (£86 million) in the last six-month period on revenue of $167 million. ®



For more dotcom financials, check out Cash Register.

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Bladerunner sequel might actually be good. Harrison Ford is in it
Go ahead, you're all clear, kid... Sorry, wrong film
Euro Parliament VOTES to BREAK UP GOOGLE. Er, OK then
It CANNA do it, captain.They DON'T have the POWER!
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
Forget Hillary, HP's ex CARLY FIORINA 'wants to be next US Prez'
Former CEO has political ambitions again, according to Washington DC sources
prev story

Whitepapers

Free virtual appliance for wire data analytics
The ExtraHop Discovery Edition is a free virtual appliance will help you to discover the performance of your applications across the network, web, VDI, database, and storage tiers.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
The total economic impact of Druva inSync
Examining the ROI enterprises may realize by implementing inSync, as they look to improve backup and recovery of endpoint data in a cost-effective manner.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Website security in corporate America
Find out how you rank among other IT managers testing your website's vulnerabilities.