By: Staff Reports Dow Jones, Excite@Home End Joint Web Effort
Work.com, the joint venture of Dow Jones & Co. and Excite@Home Corp., has
decided to cease operating due to online advertising's decline and the
difficulty of securing further funding, Dow Jones reports.
The site, which focused on small businesses and industry news, will be shut down
March 31. The majority of 113 full-time employees at Work.com's offices in
Redwood City, Calif., and New York City, will be let go by next week.
Work.com was launched last April with investments from Dow Jones, Excite@Home,
and Work.com's Chairman and CEO Donald P. Hutchinson. The companies were
planning to sell a minority stake through an initial public offering last year.
Mark C. Stevens, executive vice president, corporate and business development at
Work.com, said that an accelerated focus on profitability for the venture also
effected their decision to cease operations.
Copyright 2001, Editor & Publisher.
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