Feeds

Incubator Cube8 battens down hatches

No more new investments for six to twelve months

  • alert
  • submit to reddit

Security and trust: The backbone of doing business over the internet

Incubation company Cube8.com announced an operating loss of £4.9 million on revenue of £1.6 million in 2000 in its annual results today.

Over the course of last year, it invested in 16 companies, two of which have been sucked into the dotcom downturn (Web Street and TaoTalk), taking £1.3 million of Cube8's money with it. The company says it still has £3.1 million in the bank - enough to last it two-and-a-half years at current spending.

However, following the recent glut of dotcoms failures and very poor market conditions, Cube8 has decided to batten down the hatches and make the most of what it's got - a mixture of dotcom and offline companies with online arms. No more money will be invested for six to twelve months.

The company is also splitting in two. Cube8 Ventures Ltd will look after the companies it has invested in and the Winfield Partnership plc (grand sounding, you'll note) will be the company consulting side, bringing in the cash.

Of the companies Cube8 currently has interests in, around four are making a profit, another three or so are nearly there - including Blue Carrots - and the others are still making a loss. The company admitted it has had to revise backwards its breakeven point.

In terms of business approach, Cube8 is following the more traditional approach rather than going for the big all-or-nothing approach that has seen many companies go under. It ain't rock n' roll, but it won't die young either. ®

Related Story

Cube8 fledgling dies

New hybrid storage solutions

More from The Register

next story
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
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?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.