MobShop joined the growing list of companies in the group- buying space that are being forced to scale back their operations.
MobShop joined the growing list of companies in the group- buying space that are being forced to scale back their operations. MobShop said it would eliminate its consumer service just a week after rival Mercata said it would cease operations, and a third company, called LetsBuyIt.com, filed for bankruptcy. MobShop will still offer its service to business and government agencies.
Lotus Development took the wraps off its long-awaited knowledge management system, code-named Raven, at its annual conference in Orlando. The system, which will be called Lotus Discovery Server when it is released in March, features a data search and expertise location engine. The system can, for example, store information related to the development of previous projects.
Evolve Software scored a whopper of a contract, initially worth $6 million, when consulting giant EDS agreed to use its platform in its E.solutions practice. Evolve competes in the professional services automation sector, providing a system that allows consulting organizations to keep track of their resources and manage contracts over the Internet.
A Safe Bet
Security vendor Tripwire secured $24 million in its Series C financing from a group that includes Sun Microsystems. Tripwire provides software that helps organizations protect the integrity of data, both while it resides in a network and while it is being transferred to partners or customers. Deutsche Banc Alex. Brown and ClearLight Partners were also involved in the financing round.
Priceline.com founder Jay Walker is in trouble again with Connecticut Attorney General Richard Blumenthal. This time the state has sued his company, Walker Digital, for about $1 million, saying it didnt give laid-off workers enough notice about impending cutbacks. The state says the company laid off 106 employees one day after a cutback announcement, despite a law requiring 60 days notice.
Fire Claims Chairman
Bryan Mundy, 36, chairman of EzGov, a company that makes it possible for citizens and businesses to pay parking tickets, property taxes and other fees online, was killed in a house fire. He was found dead in his home in an Atlanta suburb, believed to have been killed by smoke inhalation. EzGov has about 150 employees, with New York Gov. Mario Cuomo and 1996 Republican vice presidential nominee Jack Kemp serving on its board.