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Successful Old Economy players often say, "Be careful about the guy who says he's got so much business he can't take on any new clients." Internet consultants used to brag about their fortunes, both financial and in numbers of clients -- until the bottom fell out of their business. It was an adventurous flight while it lasted, with bountiful sums o...
Despite posting a greater-than-expected fourth-quarter 2000 loss on Thursday, travel services e-tailer Priceline.com (Nasdaq: PCLN) secured investments totaling US$50 million from two Asian firms and predicted it would have a pro forma operating profit during the second quarter of 2001 The "name-your-price" e-tailer said it lost $25 million, or 15 ...
Homestore.com (Nasdaq: HOMS) said Thursday that the U.S. Department of Justice (DOJ) has signed off on its planned purchase of Move.com, setting the stage for the Net's largest real estate firm to become even more dominant. Westlake Village, California-based Homestore said that while investigators are still considering some minor parts of the deal...
Online auction search site Bidder's Edge, which was barred last year by a court order from combing auctions that were listed on Internet heavyweight eBay, said that it will be shutting down its search service on February 21st Burlington, Massachusetts-based Bidder's Edge said that the business model of its portal site -- which allowed users to sear...
Barnesandnoble.com (Nasdaq: BNBN) scored a legal victory over rival e-tailer Amazon.com (Nasdaq: AMZN) Wednesday when the U.S. Court of Appeals in Washington, D.C. lifted a preliminary injunction that had barred Barnesandnoble.com from using one-click Web shopping technology In its ruling, the court said that Barnesandnoble.com "raised substantial ...
Brick-and-click sellers dominated the online holiday season in the UK,according to a new study released this week by Nielsen//NetRatings. "Clicks-and-mortar retailers were able to start their holiday preparationsand marketing earlier and with higher visibility than their pure-playcompetitors," said David Day,director of analytics for ACNielsen eRa...
Film fans are finding that buying their movie tickets via the Internet is an increasingly attractive option, especially when the movie is as red-hot as box office hit "Hannibal." "We sold three times as many movie tickets online [during] Hannibal's opening weekend than we had the week before," AOL Moviefone spokesperson Jay Jay Nesheim told the E-C...
Fewer customers? That's actually a good thing. Court injunctions? We see that as a confirmation of our business model. Slower growth? Really a blessing in disguise. Welcome to the world of e-commerce public relations spin. A special branch in the time-honored art of counter-intelligence, one that requires a high level of skill and a poker face.
Amazon.com (Nasdaq: AMZN) was down 19 cents at $14.25 after Prudential Securities downgraded the stock to sell and slashed its price target to $9 from $20 Prudential analyst Mark Rowen said that "anemic growth" in the e-tailer's book/music/video segment -- the company's only profitable division -- makes the stock overvalued. Amazon's "market capita...
Online shoppers in the United States spent US$28 billion in the year 2000, according to a report released Thursday by the U.S. Census Bureau. The report, prepared by research firm Jupiter Media Metrix, estimated that online purchases jumped about 62 percent over the $17.3 billion spent in 1999 and have nearly quadrupled since 1998, when shoppers s...
Alltel (NYSE: AT) was up US$1.59 at $54.70 early Thursday after the communications company announced a reorganizationthat includes 1,000 job cuts The company said it will reduce its operations to three geographicalregions from five, with regional bases in Cleveland, Ohio; Charlotte, NorthCarolina; and Little Rock, Arkansas.
Webvan Group (Nasdaq: WBVN) will continue its fight for survival in the unforgiving online grocery business without its original driver. The company announced Wednesday that Webvan founder Louis Borders had resigned from the company's board of directors for personal reasons.
Spurred on by the ease of Internet shopping, the online market for Valentine's Day goods and services in 2001 will have increased by more than 16 million users in North America compared to a year ago, according to a study released Tuesday by Gartner Group Overall, Gartner said that North Americans will spend a total of US$2 billion for Valentine's ...
U.S. lawmakers are considering the launch of a federally funded e-commerce pilot program designed to helpsmall and mid-sized manufacturers take their businesses online. The Electronic Commerce Enhancement Act, if passed, willrequire the National Institute of Standards and Technology (NIST) to establish anadvisory panel to do an "immediate needs" a...
Amazon.com remained the top online retailerin January with roughly 2.3 million projected buyers -- more than threetimes that of nearest competitor Barnesandnoble.com -- according to a report releasedWednesday by market research firm PCData While Amazon also managed to double the number of shoppers it registered inJanuary 2000, the figure was half o...
Overstock.com, which has already carved a niche in cyberspace for its dealings in the assets of dead dot-coms, threw its hat into the online travel market Tuesday The company said it has more than 6 million bargain airline tickets, for sale to destinations worldwide, that it obtained from an unidentified ticket consolidator.
GoTo.com (Nasdaq: GOTO) rose to US$11 in morning trading Wednesday, up 44 cents, after the Internet search service reported a 60 percent revenue increase for the fourth quarter ended December 31st GoTo said it had $55 million in cash and liquid investments at the end of the quarter, and less than $1 million in debt....
Paving a new way to trade stocks via the Internet, OnStar, a division of General Motors, said Tuesday that it will offer drivers voice-enabled online trading with Fidelity Investments starting this summer. Under the agreement, the owners of about 800,000 cars equipped with the OnStar navigation system will be able to receive stock quotes, check ac...
Engage (Nasdaq: ENGA) was trading at US$1.47 early Wednesday, down 48 cents, even after the online advertising and marketing company said results for the second quarter ended in January will bebetter than previously thought The company said it expects a loss before extraordinary items "no greaterthan 28 cents per share" for the quarter, with revenu...
Think Free! Free delivery. Free samples. Buy one, get one free. Free ISPs. Free prizes. Such no-charge perks of online shopping have become staples of the Internet economy, even though we all know there's no such thing as a free lunch. What made us believe we could change that axiom with a few keystrokes?...
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