Feeds

9to5cafe.com in jobs fry-up

You want chips with that?

  • alert
  • submit to reddit

The essential guide to IT transformation

British entertainment outfit 9to5cafe.com cut its workforce by half this morning as the dotcom plague continues to claim victims.

Five employees were given the 'we're sorry to lose you but...' speech this morning as the operation had to face up to its own financial shortcomings.

Kevin Hassall, head of development at AIM-listed parent of 9to5cafe.com, On-Line Plc, told The Register there were no plans to "kill it entirely".

At the moment, On-Line is happy to bide its time but would be happy to discuss a partnership agreement or an outright sale if a buyer could be found.

Like many dotcom casualties, the problem stems from a severe lack of cash.

Said Hassall bluntly: "9to5cafe.com has no short-term revenue stream and we don't project that it will make money for two years.

"In short, the bottom line does not look good."

How quickly things change. It seems like only yesterday (well, 30 October to be precise) that the outfit issued a statement headlined: "On-Line Plc Shatters Internet Gloom - Internet pioneers post record profits!"

Intoxicated by its own success, could barely maintain its excitement that, for the year ending 30 June 2000, On-Line PLC notched up group profits of £2.58 million against losses of £182 million for the previous year.

In a statement, On-line chairman Michael Hodges said: "We were one of the first Internet companies to float in the UK, and are now one of the first to show that the net can deliver returns. I hope this will clear away the cloud of despondency that has formed around the Internet in the eyes of the Investment community."

Other thoroughbreds in On-line's stable include financial Web site ADVFN.com, which was floated in March 2000; AAA Game, a games developer and publisher; and advertising platform Advertwizard. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Facebook, Google and Instagram 'worse than drugs' says Miley Cyrus
Italian boffins agree with popette's theory that haters are the real wrecking balls
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.