Work.com Punches Out
REDWOOD CITY, CALIF. -Citing slow online advertising and an inability to secure additional funding, Work.com, a financial Web site backed by Dow Jones & Co. and Excite@Home Corp., will clock out for good on March 31, The site launched less than 12 months ago.
Despite solid traffic gains that netted more than 1 million unique visitors, the market for Work.com "has not developed as quickly as expected," said Work.com director Gordon Crovitz in a press release.
The majority of Work.com's 113 full-time employees were handed pink slips last week, while a skeleton crew remains to help with the wind-down, the company said. Excite@Home said earlier this year that it plans to pare holdings that fall outside its core cable-modem service portfolio.
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By Kent Gibbons