[IPO to bankruptcy on Internet time. How depressing... Oh, to be
"bricks" -- Here's to you, Peter Jennings! - RK]
Web Retailer Mercata Shuts Down After Pulling
IPO<http://venturewire.net/o_mailer.asp?sid=22369> <#22369x>
BELLEVUE, Wash. (VENTUREWIRE) -- A day after officially announcing
the withdrawl of its IPO, Mercata, a provider of online retailing
services for group buying, said it will shut down on Jan. 31. The
company said it has not been able to attract further investments
since March 2000, when it raised $40 million. The company said it
will be accept orders until Jan. 31 and will accept returns if they
are postmarked by Jan. 20. Mercata was backed by Vulcan Ventures,
Highland Capital, Global Retail Partners, Europ@web, Amerindo,
Watershed Capital, and Thomas Weisel Partners.
<http://venturewire.net/comp.asp?l=http://www.mercata.com>http://www.m
ercata.com
Kinko's Buys Kinkos.com, Announces Layoffs, Office
Closing<http://venturewire.net/o_mailer.asp?sid=22386> <#22386x>
VENTURA, Calif. (VENTUREWIRE) -- Kinko's said it has acquired
kinkos.com for an undisclosed price and that it will close
kinkos.com's Alexandria, Va. office. Kinkos.com was formed in
March last year as a joint venture between Kinko's and
Liveprint.com, an online printing and marketing services provider
that merged its operations into kinkos.com. The venture had been
capitalized with approximately $40 million from Kinko's and
Liveprint.com shareholders. Kinko's, which held a majority stake
in kinkos.com, shared ownership of the company with investors
including Chase Capital Partners; Clayton, Dubilier, & Rice; and
Flatiron Partners. Kinko's said the merger will affect up to 70
positions during the first quarter of 2001. Kinko's said some
employees will be offered jobs at its Ventura, California
headquarters and the rest will be laid off. Kinkos.com CEO Rick
Steele will stay on with the combined company through the transition
period.
<http://venturewire.net/comp.asp?l=http://www.kinkos.com>http://www.kinkos.com
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