July's cyber casualties revealed
Deaths drop 30% from June
With much of the Internet carnage neatly swept away, the number of dotcom deaths carried on falling in July.
Thirty-two Net oufits either shut down or declared bankruptcy in July, a drop of 30 per cent from a month ago, and the lowest number since September 2000.
Casualties included online grocers Webvan and HomeRuns.com.
This puts the total of dotcom casualties for the year so far at 367, according to figures from Webmergers. It compares to 56 shutdowns for the first seven months of 2000.
"July's data reinforces our belief that we have seen the worst of the Internet shakeout as the tail of the first wave of B2C shutdowns overlaps with the second wave of B2B-oriented failures," the report states.
On the flipside, buyers spent almost $3 billion to acquire 99 dotcoms in July - the same as April and May's figures, but half of June's $6 billion.
Despite much of the IT industry being forced to adopt belt-tightening policies, around $32 billion has been spent so far this year by companies snapping up Net outfits. ®