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 Bears of 2000 hold late New Year party
Bloomberg News Service
SAN FRANCISCO — Dot-com companies continued to close at a record pace in January with 49 ceasing operations, matching the number closed in November, the previous busiest month, according to research and advisory firm Webmergers.com.
Another 112 firms were bought for $5.3 billion, said San Francisco-based Webmergers.com. Of those, 60 were Web sites, acquired for $623 million, one-sixth the year-ago figure of $3.7 billion for 57 Web sites as valuations fell.
In 13 months, 270 dot-coms have closed, 181 of them in the past four months alone, the company said. Among shutdowns, 24 were electronic commerce firms and 14 content providers, with the rest access and infrastructure firms.
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