BOO.COM'S DOWNFALL: The WALL STREET JOURNAL's Portanger
& Gruner report that sportswear retailer Boo.com "failed
yesterday in a last-ditch attempt to raise additional
funding from shareholders or find a buyer." Shareholders
"made the decision to call in" receivers KPMG after weeks of
discussions "aimed at rescuing the ailing business."
Portanger & Gruner write that the "collapse" of Boo.com
"will come as a reality check to other Internet firms that
... have had little difficulty in attracting funding" (WALL
STREET JOURNAL, 5/18). An editorial in today's FINANCIAL
TIMES states, "The fate of Boo will provide general lessons
to the market. ... It was one of the most ambitious of
Europe's internet start-ups with plans to sell in 18
countries." The editorial continues, "But as with other
dotcom companies the chances of success depended on a
desperate dash for profits" (FINANCIAL TIMES, 5/18).
WEB SAVVY: FrontLine Solutions has acquired MN Youth
Hockey Network (MNYH), an online provider of youth hockey
information. FrontLine will leverage MNYH's Web site at
www.MNYH.net in an effort to complement its Internet portal
at USARinks.com. FrontLine named MNYH.net Founder & Owner
Darren Wercinski to Dir of Business Development for
USARinks.com (FrontLine Solutions).
