Feeds

Hoojit.com weeks away from being titsup.com

£90m investor had enough

  • alert
  • submit to reddit

Build a business case: developing custom apps

Chris Matthews - the e-ntrepreneur who reportedly made £90 million when he sold his ISP/telco, Telinco, to WorldOnline last year - has had his golden fingers burned.

Matthews ploughed some £10 million into search engine/shopping portal Hoojit.com. Now he's looking for a buyer.

The eleven remaining staff at the Cheshire-based dotcom were told yesterday that their jobs are at risk unless some fresh cash is found.

Management has given itself a month to find a new investor or face closing the b-2-c site.

Hoojit's acting MD, Andrew Wayland, is currently in Holland overseeing the "strategic re-alignment of its European operations to focus on the development of core search and tracking technologies".

In a statement the company said: "Part of this restructuring will mean that Hoojit's business-to-consumer websites, including the shopping guide, hotel guide and its outsourced shopping service will be closed.

"Staff based at the Northwich office, which up till now has been the development and operations base for the business to consumer products, have been informed that their jobs are at risk if an appropriate buyer or investor can not be found within the next few weeks." ®

Related Stories

Hoojit maflips Shoppers Search engine
Telinco chairman picks up £90m

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
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
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
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
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.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.