RealTime IT News

GreatEntertaining.com Shutting Doors

San Francisco-based Great Entertaining Inc. will be turning out the lights as the online marketplace "for entertaining trends and ideas, quality products, services and party supplies" packs it in.

A letter from Christy Ross, founder, president and CEO of the company, blames market conditions for the business failure. "We are saddened that we won't be able to continue to help and serve you," she wrote. The site will continue to take orders through Jan. 29.

"We understand that with the recent success of our clearance sales, we have slipped from our usually high standards of order fulfillment and customer service," the letter on the site says. "However, we felt it best for our loyal customers to receive the benefits of deep discounting rather than the liquidators."

The operation, founded in May 1999, was backed by venture capital firms such as Benchmark Capital and Technology Crossover Ventures, and Great Entertaining says on its Web site that it has secured over $35 million in funding to date. The number of jobs lost was not immediately available.