By: Staff Reports Site Had Hired From Newspapers
Another news Web site has pulled the plug. Localbusiness.com of
Ft. Lauderdale, Fla., shut down over the weekend, laying off
about 75 employees, according to a report in the South Florida
Sun-Sentinel. The story said the company's owners had
unsuccessfully sought a buyer.
The privately held company, originally known as dbusiness.com,
had laid off over 100 employees and closed several bureaus just
four months ago. The site had hired aggressively from newspapers
to staff its bureaus in over two dozen cities across the U.S.
The company provided free local business news and sold some
research data. The largest chunk of revenues came from
advertising, according to the Sun-Sentinel.
Among the site's investors was Tribune Ventures, the investment
arm of Chicago's Tribune Co.
Related story:
DBUSINESS GETS LOCAL (09/13/00)
Copyright 2001, Editor & Publisher.
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