For Whom the Bell Tolls
Despite July’s soaring temperatures and record-breaking heatwaves, dotcoms remained relatively cool, with a thirty-percent reduction in bankruptcy declarations and company shut-downs, compared to the previous month’s death toll. According to a report by Webmergers.com, this is the lowest body count since September 2000, with only 32 percent of Internet companies kicking the corporate bucket.
Dotcoms seem to be the hardest hit in this flagging economy, with 367 shutdowns in the past seven months. This figure makes up 62 percent of the Internet casualties experienced since January 2000. And, although the graveyard seems to be filling up fast, some significant Internet deals were made in July, including acquisitions by Ameritrade and BSA Security, which will help bring some new soldiers onto the battlefield.