Mike,
Here is your answer to etown, I met the guy who started it about two or three years ago at a convention. Very nice guy..
New York -- Creditors have pulled the plug on etown, the online content and e-commerce infrastructure provider for consumer electronics retailers and manufacturers.
Strapped for cash and unable to obtain further funding from investors, the six-year-old Internet operation was shuttered, and its 100 employees here and in San Francisco were sent home on St. Valentine's Day after the company's financial well ran dry. Workers received no severance and were not paid for the final two-week pay period. In the wake of the foreclosure, all etown assets were transferred to Best Buy, the company's largest individual investor and the deep pockets behind a recent bridge loan.
It is unclear whether the nation's No. 1 CE chain will keep or sell the company's assets, and how long it will maintain the etown website,
www.etown.com, which was still operational last week. A Best Buy spokeswoman conceded that "it's very preliminary at this point and we're not sure exactly what we're going to do [aside from] assessing the net value of the company and determining how we're going to handle it."
the etown website,
www.etown.com, which was still operational last week. A Best Buy spokeswoman conceded that "it's very preliminary at this point and we're not sure exactly what we're going to do [aside from] assessing the net value of the company and determining how we're going to handle it."The retailer made an initial $10 million strategic equity investment in etown some 14 months ago through its e-commerce unit BestBuy.com.
