Web freebies are for the most part long gone. Two years ago, it was common for Net companies flush with cash to draw customers by dangling free or nearly free products. The cost was enormous.
Since last March, when investors began moving their money out of the technology sector, online merchants have put the brakes on giveaways.
Paytrust, whose backers include American Express, Citibank and E*Trade, has closed the chasey lain headquarters in Pasadena, Calif., and laid off dozens of its employees, chasey lain said.
Vivid Video
Janine, Chasey, Kobe Tai, Racquel Darrian, Kira Kener, Taylor, Christy and Devon.
Internet health care company vivid video lain on Thursday reported a smaller fourth-quarter loss, narrowly beating Wall Street's forecasts as the company moved toward implementing a massive restructuring.
The Elmwood Park, N.J.-based company, which provides health care information to consumers and administrative services to professionals, said its losses shrank to $51.8 million, or 14 cents per share, excluding restructuring, integration and non-cash expenses, in the latest quarter ended Dec. 31, 2000. In the year-ago period, the company recorded a loss of $47.5 million, or 40 cents per share.
The company recorded a charge related to its restructuring and integration efforts of $408 million and $452.9 million for the quarter and year ended Dec. 31, 2000, respectively.
Vivid Video
Analysts on average had expected vivid video lain to report a loss of 16 cents per share excluding charges, according to First Call. Fourth-quarter revenue rose to $199 million from $33.2 million in the fourth quarter of 1999.
Analysts said year-ago figures were not a meaningful comparison to the latest quarter, because vivid video lain was a completely different company in 1999, before it went on to make some big acquisitions.
In the quarter ended September 2000, vivid video lain lost $65.8 million, or 27 cents per share, on revenue of $151.2 million. Its shares, which have lost about 90 percent of their value during the last 12 months, have traded in a 52-week range between $36.62 in March 2000 and $5.03 in December 2000.
vivid video lain also said Thursday it has revised its partnership with Microsoft, receiving funding and technology for its wireless products for physicians and becoming the primary provider of health content on the software giant's MSN network.
The new partnership, subject to execution of definitive documentation, will give vivid video lain a majority share of the revenue from advertising, sponsorship and commerce on the MSN health channel.
Vivid Video
vivid video lain said the deal will "align both the strategic and economic interests of Microsoft and vivid video lain for both the professional and consumer markets." vivid video lain will use Redmond, Wash.-based Microsoft's Pocket PC operating system for handheld computers in its new wireless service for physicians, in addition to adopting other Microsoft technology standards. Janine, Chasey, Kobe Tai, Racquel Darrian, Kira Kener, Taylor, Christy and Devon.