Dot Com News from Week of February 19, 2001

• 2/23/01 - Kozmo.com Inc. said that it laid off about 60 employees, or 4% of its work force, as part of a company-wide makeover that will add new services to the company's core home delivery service offerings. As part of the revamping, the company said it will also drop the ".com" from its consumer brand, and go simply by Kozmo.
• 2/23/01 - Net Nanny, a company that specializes in Internet and computer security products for both the home and enterprise markets, announced that it is reducing its workforce and expenses to more efficiently manage its resources, while pursuing sales opportunities and additional funding.
• 2/22/01 - Aptimus, an online direct-marketing network, said it is laying off 150 of its 210 workers, or more than 70 percent of its staff, and will shut down its consumer Web sites as part of a restructuring. The Web sites being shut down include FreeShop.com, Desteo.com and CatalogSite.com.
• 2/22/01 - In an effort to reduce cash burn and cut operating expenses, E-Stamp said it will reduce its work force by 45 employees.
• 2/21/01 - CalendarCentral, provider of the only Web-based calendar designed to deliver 3-D collaboration, announced that it is ceasing normal business operations at the end of February to focus its efforts on Merger and Acquisition alternatives, as well as licensing opportunities for its intellectual property. The company's remaining 13 employees will leave as of February 28, 2001.

• 2/21/01 - VA Linux Systems said it will cut 25 percent of its staff and warned that profitability will arrive nine months later than planned.
• 2/20/01 - Intel Corp., facing a steep slowdown in demand for its computer chips, said it is instituting cost-saving measures ranging from cutting head count to deferring raises. Intel said it plans to reduce its employees through normal attrition and it is filling only "critical positions." The company also plans to cut discretionary spending, which includes travel and overtime, by 30%.
• 2/20/01 - Webvan said it has ceased service in Dallas and laid off its entire staff there to conserve operating capital and focus on the profitability of its nine other markets. Webvan's Dallas operations employed approximately 220 workers, who will receive 60 days severance.
• 2/19/01 - Atlanta based QUAD-i, owner and operator of Underneath.com, the Internet's most popular retailer of brand name intimate apparel for men and women, announced that it is up for sale for $5.8 million. It is in need of more resources to keep up with its success, which is the reason it is up for sale.
• 2/19/01 - Stan Lee Media Inc. announced that it has filed for Chapter 11 bankruptcy protection. During the bankruptcy period, management plans to solicit offers from one or more buyers interested in acquiring the assets of the company or recapitalizing the company.
• 2/19/01 - On a notice posted on the Bidder's Edge home page: "Due to market and financing conditions, the Bidder's Edge Web site will be closing on Wednesday, Feb. 21, 2001. We are sorry to say, after that date, we will no longer be tracking auction items." Bidder's Edge offered a service that allowed users to search multiple online auctions at once.