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To: Chung Lee who wrote (102459)	4/30/2000 5:34:00 PM
From: re3	Read Replies (1) \| Respond to of 164684

yeah i didn't wait the full 72 hours <G> but i did pretty good for a self-imposed exile. did you miss me <G> ? why do you have to exile yourself ? did you use one of the bad words ? did you ever watch the leave it to beaver show ? remember how the older boys would try to sucker beaver and his pals by getting THEM to pay to do certain jobs that kids at that age think are fun to do ? yeah thats si too, they get people to pay for memberships then provide free written material for them... and people say ebay is a great business model <g>

To: Chung Lee who wrote (102459)	5/3/2000 2:23:00 AM
From: Chung Lee	Respond to of 164684

Boo.com Holders Put Site on the Block Amid Doubts Over Ability to Raise Cash LONDON -- Boo.com Group Ltd. (www.boo.com), which staged a high-profile launch last year as one of the first global online retailers, is up for sale after shareholders concluded it has few prospects of raising additional funds. The decision by shareholders, which include French entrepreneur Bernard Arnault and New York investment banks J.P. Morgan & Co. and Goldman Sachs Group Inc., demonstrates the growing impatience of investors buffeted by steep downturns in once highflying Internet stocks. It also is a sign that Internet companies in Europe may no longer be able to count on the public market to fund their ambitious expansion plans. A wave of consolidation in the sector, say industry observers, could be just around the corner. "This is just the beginning. There are lots of people who have burnt a lot of cash and who haven't achieved their expected sales," says Michael Wand, a technology analyst in London with Germany's Deutsche Bank AG. Boo.com, a London seller of fashion and sporting apparel and accessories, last year raised about 70 million ($108.7 million) in venture capital, believed to be the biggest private fund raising in Europe at the time. It already is running short of cash, after a massive ad campaign and global launch of its service. "I can confirm that the shareholders are seeking a resolution," says a spokesman for one Boo.com shareholder. He says plans for an initial public offering were scrapped amid waning investor interest in online business-to-consumer projects. A similar lack of interest from private investors left shareholders with only one clear option -- to sell the business. Market watchers say potential buyers could include sporting-apparel makers or retailing groups seeking a quick global presence. U.S. Internet companies with a limited presence in Europe also are likely to be wooed as possible buyers. J.P. Morgan, which advised Boo.com throughout its fund raising and holds less than 5% of Boo.com's shares, is no longer advising the group but remains a shareholder and has approached potential buyers. A spokeswoman for Boo.com declined to comment. Spokespeople for Bernard Arnault, J.P. Morgan and Goldman Sachs also declined to comment. The decision to sell Boo.com represents quite a reversal of fortune for the high-profile group, which claimed at its launch last year to be "the first truly global e-tailer, with world-wide sales, marketing and distribution capabilities." While early signs were promising, Boo.com was plagued by a raft of problems, including a six-month delay in its launch, criticism about the design of its Web site and reports of poor sales. Its failure to reach agreements with well-known sports brands Nike Inc. and Adidas AG for the sale of their products also proved a big setback to its credibility. More recently, the group laid off 70 employees and was hit by the departure of one co-founder and three senior executives. Shareholders in Boo.com also expressed concerns at the speed at which funds were being used. Some analysts estimate Boo.com spent more than half of the 70 million in start-up capital in just a few months. Indeed, it spent about 25 million euros ($22.9 million) to advertise in movie theaters, on prime-time television and in more than 50 publications, including Elle magazine and Rolling Stone. Write to Erik Portanger at erik.portanger@wsj.com and Stephanie Gruner at stephanie.gruner@wsj.com