InternetNews Staff

Virtual hard drive company X:drive raised $20 million in venture capital funding in a round led by eCompanies Venture Group L.P., Goldman Sachs Group Inc. and Wit Capital Group Inc. X:drive said it will use the funds to expand its national advertising campaign and continue to secure partnerships with Web sites and companies that benefit […]

Hewlett-Packard Co. and America Online formed an alliance to bring enhanced printing and e-commerce solutions to various AOL brands. The companies said they are collaborating on several online areas to provide greater ease-of-use, better output and additional print-related options for consumers. Financial terms of the arrangement were not disclosed. HP-branded and co-branded components are expected […]

Online flower and gift retailer 1-800-Flowers.com acquired GreatFood.com Inc., an online retailer of specialty and gourmet food products, for $18.5 million in cash. “GreatFood.com fits very well with our strategy of broadening our non-floral product offering,” said Jerry Noonan, 1-800-Flowers.com’s senior vice president and chief marketing officer. Founded in 1995, greatfood.com features more than 4,000 […]

Internet stocks were punished for a second straight day, following impressive gains in recent weeks. internet.com’s ISDEX gave up 43.75 to 675.69, the Nasdaq composite lost 85.17 to 3336.20, and the Dow Jones Industrial Average surrendered 70.11, closing at 10,877.81. Disney’s Internet tracking stock, Go.com (GO) , added 2-3/16 to 27-3/4. ESPN.com and ABC.com, both […]

Sun Microsystems Inc. and application service provider eOnline Tuesday hooked up to offer enterprise software solutions to mid- and large-sized companies worldwide in a deal worth more than $90 million. eOnline will use Sun’s (SUNW) Enterprise and Netra servers as the platform for delivering services to customers with more than 500 users. Also, the companies […]

Motorola’s high-speed wireless Internet access for its cdmaOne networks will be launched commercially for the first time in Japan on Jan. 7, 2000. This capability is based on the cdmaOneTIA/EIA-IS-95B standard, allows subscribers to access the Internet at speeds up to 64Kbps. The technology currently is under trial. DDI Corp. and IDO Corp. of Japan […]

The second Internet stock wave is under way, and it will be a tsunami compared to the first wave experienced in late ’98, early ’99. The first wave was driven largely by investors gobbling up consumer oriented issues (business-to-consumer, B2B). Stocks fueling the first wave included Yahoo! Inc. (YHOO), Priceline.com Inc. (PCLN) and Amazon.com Inc. […]

medibuy.com, a provider of e-commerce solutions for medical supply procurement, acquired PartNET, a privately held software developer of e-commerce technology. Terms were not disclosed. medibuy.com said the acquisition will allow it to deliver real-time customized pricing solutions to buyers and sellers of healthcare supplies and equipment around the world. PartNET’s scaleable e-commerce technology assembles catalog […]

Oftel, the UK Government’s Office of Telecommunications, Tuesday published its timetable for BT to unbundle it local loop, making it available to other operators. BT will be required to provide full access to its local telecoms lines by July 2001 at the latest, says Oftel. The requirement will be a new licence condition for BT. […]

Certain companies marketing to young consumers don’t need mass-appeal sites at all and should redirect their online efforts to banner advertising and sponsorships, says a new e-commerce study. The new Technographics Report from Forrester Research says that young consumers’ preferences for leading brands don’t correlate with traffic to these companies’ Web sites. Brands dependent upon […]

TeleTech Holdings Inc., a provider of e-commerce-enabled customer management solutions, won a long-term contract award from Blockbuster Inc. to provide multi-channel customer and technical support for blockbuster.com. Blockbuster.com’s re-launched site offers new and used videotapes, video games, as well as DVDs and movie soundtracks for sale online. TeleTech’s Internet-integrated customer management solution, Cybercare, provides customers […]

Internet “currency” site operators Flooz.com and beenz.com formed an alliance so that beenz users can now exchange beenz for Flooz. beenz account holders will be able to convert their beenz to Flooz gift dollars at the beenz site, thus enabling beenz holders to shop at more than 50 online stores that accept Flooz as payment. […]