Express Web sites liquidated
Messy way to go
Four former Express Newspaper Web sites - which were sold for £1 by its new owners last month - have been placed into liquidation. Express.co.uk, Allaboutparents.co.uk, sportlive.co.uk and companyleader.com were said to be costing the business between £7 million and £8 million a year. Fifty people have lost their jobs.
Amazon.com's Q4 results, although up 42 per cent on the same period last year, failed to meet analysts' expectations. The company reported income of $960 million for the three months to December, and is expecting gross profit of $210 million. Analysts expected figures of $1 billion and $230 million respectively. The company said it still expected an operating loss of around seven per cent on sales.
Ajay Chowdhury - the former CEO of LineOne - has been appointed non-executive director at the Internet hosting and domain outfit Virtual Internet. His appointment was made public as Virtual Internet reported that turnover for the year to 31 October 2000 increased by 232 per cent to £ 6.26 million from £1.89 million for the 13-month period ended 31 October 1999. Gross profit tripped in at £4.4 million compared with £1.2 million over the corresponding period. The loss before taxation, goodwill amortisation and the employee share incentive charge staggered in at £4.34 million compared with £1.26 million. The group says its has £19 million cash tucked away in the bank following its movement in April from AIM to the Official List of the London Stock Exchange.
First Tuesday, the organisation that provides a forum for Internet entrepreneurs and venture capitalists to meet, could be sold by its owners, Yazam.The Independent
reports that Yazam is planning to offload First Tuesday, which it only bought in July for an estimated £50 million, as part of a plan to wind down its Internet-related business.
Geo Interactive Media Group Ltd - a provider of streaming video solutions - is seeking shareholder approval to change its name to Emblaze Systems Ltd. ®
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