Tesco and Sainsburys will make ebiz bucks by 2005

Scour cans staff

By Team Register, 4th September 2000

Scour announced it was laying off 52 of its 70 staff on Friday. This has fuelled speculation that the company, which makes software for trading music and video, is about to collapse.

Tesco and Sainsburys can expect their Internet supermarkets to be profitable by 2005 according to a report on Internet food shopping by ecommerce consultancy E-Insight. But they will incur losses and make investments of up to £400 million and £160 million respectively.

Seriously troubled health and beauty e-tailer Clickmango is in last minute rescue talks with two unamed potential purchasers. Co-founder Robert Norton told the Telegraph he is cautiously optimistic.

Fine wine exchange, Uvine.com, has secured $3 million out of the possible $8 million it is after for its third round of funding. Ex England cricket captain David Gower is one of the firm's backers.

lastminute.com is the most visited travel site in the UK and Germany, according to NetValue's Internet ratings reaching 7.9 per cent of all Net users in the UK and 3.2 per cent.

eVestment - which invests in young technology and e-commerce related businesses - has agreed in principle to acquire Exeter-based portfolio managers and stockbrokers, Christows Group Ltd.

eVestment hopes that the move will bolster its investment and advisory services. ®

For more ebiz financials visit our Cash Register.

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