(COMTEX) iBelieve.com Announces Shutdown of Site
GRAND RAPIDS, Mich., Oct 20, 2000 /PRNewswire via COMTEX/ -- Christian
lifestyle site iBelieve.com today announced it has been unable to secure
additional financing and will suspend operations and shut down its website.
The Grand Rapids, Mich.-based Internet company said the shutdown comes after
several months of efforts to secure additional funding to keep the site up and
running. iBelieve.com launched in January 2000 as an integrated content,
community and commerce site serving the Christian market.
"We met or exceeded all of our traffic metrics, experienced revenue growth every
month since launch and realized our goal of becoming the leading Christian
Internet site," said Jef Fite, president of iBelieve.com. "However, like many
other Internet companies, we were not able to raise capital given the current
market conditions, and we are left without options."
iBelieve.com expects to lay off its 35-person staff within the next two weeks
following the shutdown of the site. iBelieve.com halted all e-commerce
operations earlier today, but plans to honor all orders previously completed on
the site. Users will have access to iBelieve.com's customer care services
through an email link on the site for the next few weeks.
SOURCE iBelieve.com
CONTACT: Jeff Lambert or Brian Edwards of Lambert, Edwards & Associate
,
Inc., 616-233-0500, mail@lambert-edwards.com, for iBelieve.co
prnewswire.com
(C) 2000 PR Newswire. All rights reserved.
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KEYWORD: Michigan
INDUSTRY KEYWORD: MLM
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