Feeds

9to5cafe.com in jobs fry-up

You want chips with that?

  • alert
  • submit to reddit

Boost IT visibility and business value

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. ®

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

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.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.