Thor Olavsrud

Net consultancy iXL Enterprises Thursday unveiled a slew of financial and strategic initiatives focused firmly on one goal: achieving EBIDTA profitable operations within the first half of 2001. “By taking decisive action now, we believe we complete our turnaround, attain our EBIDTA profitability goal early next year, and iXL will emerge as a much stronger […]

Instinet Corp., the world’s largest agency broker, Wednesday stepped back from previously stated plans to open its own online retail brokerage to compete with services from companies like E*Trade Group. Instead the Reuters Group PLC subsidiary now plans to market its equity retail trading product on a private label basis through its wholesale business. The […]

Managed services provider Loudcloud Inc., a company co-founded by Netscape heavyweight Marc Andreessen, struck a strategic alliance with Oracle Corp. Wednesday. Together, the two companies will offer Global 2000 companies and software companies services spanning e-Business strategy and planning to Internet infrastructure operations and management. The companies said their integrated services will help businesses develop, […]

Palm Inc. Wednesday reported it beat Wall Street’s estimates for second quarter fiscal 2001 earnings by one cent per share and immediately followed the announcement by unveiling a definitive agreement to acquire WeSync, a provider of group and wireless synchronization technologies for Palm OS-based handhelds, for $40 to $45 million in cash or stock. “The […]

About Inc. Wednesday sealed a strategic partnership with Keen.com to integrate that company’s live answer technology with About’s site. About, which has tagged itself The Human Internet because it gives users the ability to interact live with “guides” and “experts” on a multitude of subjects through e-mail and chat, will grow an even more human […]

Hampton Roads, Va.-based Picus Communications, a player in the regional DSL market, Tuesday became the latest DSL provider to throw in the towel, filing for Chapter 11 bankruptcy protection. Picus is following the now all-too-familiar trail left by companies like L.A. based Quentra Networks Inc., which filed for protection last Friday, and the four ISPS […]

infoUSA, provider of proprietary business and consumer databases and sales and marketing solutions, cut 325 jobs Monday in an attempt to shore up its cash flow and attain profitability by the first quarter of 2001. The company also reduced expenses, scaled back its Internet operations and eliminated under performing divisions. “In view of the weakening […]

Microsoft Corp. and broadband network provider Winstar Communications Monday expanded their joint marketing alliance to encompass a broad distribution agreement between Microsoft’s bCentral small business service and Winstar’s Office.com. The distribution agreement, which will see an integration of co-branded versions of bCentral online productivity services with Office.com’s content, is envisioned as a first step in […]

Recruitment solutions provider HotJobs.com Ltd. Monday took a small step back from its no headhunter policy, though not in relation to its headlining HotJobs.com site. The company launched AgencyExchange.com, an online exchange aimed at staffing agencies and corporate hiring managers. The B2B exchange, operating independently of the consumer-focused HotJobs.com, provides staffing agencies with tools that […]

shockwave.com, subsidiary of Macromedia Inc., Friday struck a deal to acquire AtomFilms in an all stock deal worth an undisclosed amount. Under the agreement, AtomFilms shareholders will own 30 percent of the consolidated company. Macromedia said it expects the transaction to close by the first quarter of calendar 2001 and added that the acquisition will […]

In a move that can be expected to be a blow to the gut for the Nasdaq Friday morning, Microsoft Corp. Thursday warned Wall Street that revenue and earnings for its second quarter, ending on Dec. 31, will be below expectations and the overall outlook for fiscal 2001 should be lowered by five percent. The […]

The world’s largest Internet services company Thursday cleared the second-to-last hurdle in its quest to acquire the No. 2 cable company in the U.S., though the restrictions imposed will lead to intense government scrutiny. The Federal Trade Commission, in an unanimous 5-0 decision, gave its approval to the $109 billion merger of America Online Inc. […]