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Federal Probe Report Dampens HomeStore.com IPO Optimism

The report said the investigation centers around HomeStore.com's exclusive listing arrangements with local realty boards, which may lock out other listing services from the online market, sources told the paper. The self-proclaimed leading Internet real estate listing service - with approximately 93 percent of the 1.47 million homes listed on the Web - is backed by the National Association of Realtors, the National Association of Home Builders and Fannie Mae, the largest provider of home mortgage funding. National Organization's Internet Role Questioned A National Association of Realtors' spokesman told the E-Commerce Times that the organization "assisted" the Wall Street Journal in preparing the article, but he was unable to say whether the organization was aware of a federal investigation into its role on the Internet, as reported by the paper. The national organization's Web site at REALTOR.COM is listed as a member of HomeStore's family of sites. Other sites include HomeBuilder.com, SpringStreet and CommercialSource. On its Web site, the organization cites a Media Metrix survey that says it is the busiest real estate site on the Web, drawing almost 250 percent more traffic than its nearest competitor and as much as the next five sites combined. HomeStore UnderGoes Makeover Known as RealSelect until it changed its name in June, the Thousand Oaks, California-based company expanded on a multi-million, multi-year agreement with AOL in May to provide exclusive listings across its brand of sites. Thursday's initial stock sale raised $140 million for the company and gave it a market value of $1.84 billion at the high peak of trading. The company lost $28.8 million on revenue of $16.6 million in the first six months of the year. While the report of a federal investigation of the company is cause for concern, so too is a $300 million lawsuit filed against HomeStore.com by Cendant last month. The largest franchiser of Coldwell Banker, ERA and Century 21 brands, Cendant said in its suit that HomeStore reneged on an agreement to give it shares prior to Thursday's IPO. In a filing with the SEC, HomeStore said it was in the process of responding to the allegations...

Cyberian Outpost and Tweeter Join Forces: Execs Talk About Venture

Darryl Peck, chief executive officer of Cyberian Outpost, told the E-Commerce Times in an interview yesterday that the joint venture would give the Kent, Connecticut-based company "a leg up on Amazon.com." He also said the new jointly operated Web site called [email protected] will be up and running by fall -- just in time for the Christmas e-shopping season.

Latin American Portal Shifts Into High Gear

El Sitio was founded in Buenos Aires, Argentina in 1996 and the company is proud of its Latin American heritage. Most Spanish-language Web sites are aimed at a hybrid of Spanish speakers with little concern for local content, Cibrian-Campoy noted in a previous interview with the E-Commerce Times.

Reuters Looks To Expand Global Internet Business

Reuters spokesman Adam Wolf told the E-Commerce Times that the company would look to sign content agreements with portals and sites in other regions, essentially trying to replicate the phenomenal success it has had signing up American partners. It currently supplies news con...

Hearst & NBC Pump Investment into E-Commerce Firms

Scott Sperling, the managing director of Boston-based Thomas H. Lee Company, told the E-Commerce Times that the investment opportunity was too good to pass up. "The online home furnishings market is highly fragmented and we think that GoodHome.com offers the business model th...

Hearst & NBC Pump Investment into E-Commerce Firms

Scott Sperling, the managing director of Boston-based Thomas H. Lee Company, told the E-Commerce Times that the investment opportunity was too good to pass up. "The online home furnishings market is highly fragmented and we think that GoodHome.com offers the business model th...

Datek Under Siege, Despite $195 Million Investment

Datek Online confirmed to the E-Commerce Times Friday that Vulcan Ventures, the investment company run by Microsoft co-founder Paul Allen, declined to participate in the equity investment. The company did not offer a reason for Vulcan Ventures withdrawal, which was said to have come at the last minute in the due diligence process.

Red Hat Moves on European Linux Market

According to company spokesperson Melissa London, in an interview with E-Commerce Times, "this is the foray into the European market for Red Hat." "Fast-growing enterprise businesses in Europe want localized Linux solution and service providers" said Tenwick, a former vice president and general manager of Sybase (Nasdaq: SYBS) Europe...

Linuxcare To Provide Tech Service and Support In Japan

With regard to the US market, Doug Bennett, President of MacMillan Publishing, observed in a recent E-Commerce Times interview "that there is a lot of tire-kicking going on right now, because Linux has done a great job of getting a lot of PR about Linux." Some industry observers are looking to international markets for a more insightful field test of the open-source OS...

iCat E-Commerce UK Invasion

According to iCat company representative Scott Battishill, in an E-Commerce Times Interview, "one day BT was a great portal for their customers, and the next they were an e-commerce provider. They just flipped a switch, and they're providing this established e-commerce service." ...

CBS Acquires Stake In Medscape, Plans Healthcare Launch

In an exclusive interview, Medscape spokesman David Fluhrer told the E-Commerce Times that some 380,000 consumers have registered with the company's site, which is earmarked primarily for physicians and other medical professionals. A total of 1.1 million registered users have signed up with Medscape since it was launched in 1995.

TurboLinux Begins U.S. Market Debut

Lonn Johnston, Vice President of North American Operations for TurboLinux told E-Commerce Times in an exclusive interview that the "target market for Workstation is the Linux user who wants to concentrate on desktop work," including "education, developers and office workers." ...

New Group Sends Message On Internet Regulation

"We intend to be a vehicle to express the view that the government - whether they be local, state of federal - should not impede the progress of the Internet," Chris Wolf, the group's president, told the E-Commerce Times Friday. Wolf, a Washington, D.C.-based lawyer who speci...

Official eBay Book Slated For Fall Release

Reached at his Manhattan home, Michael Kaiser, 43, told the E-Commerce Times that the couple is wrapping up the book and that the project has gone smoothly to date. "We've heard people say that writing a book together can be very trying on a couple, but it's been just the opp...

Microsoft Puts Patch On Server Security Holes

Microsoft (Nasdaq: MSFT) has posted a patch on its Security Advisor Web page to eliminate a significant vulnerability discovered by eEye, an independent online security firm, and reported on last week by the E-Commerce Times The vulnerability involves Microsoft's Internet Info...

E-Commerce Tax On Agenda, As Commission Begins Work

The commission adjourns late Tuesday. The proceedings can be followed live at www.ecommercecommission.org, a representative of the coalition told the E-Commerce Times. The next meetings will take place in Silicon Valley, California, Austin, Texas and New York City ...

Report Finds Top Sites Control Most Ad Revenue

"There's a high degree of concentration in the online ad world," Geoffrey Ramsey, statmaster at eMarketer, told the E-Commerce Times. "The big players are getting bigger. They're swallowing up other companies. The earlier movers have gained the momentum, so it's kind of a snowball effect." ...

Akamai Technologies Hooks E-Commerce Big Fish

"We want to be the leading company in the new marketplace and these relationships we engaged in with some of the top performing Web sites in the world, whether the highest speed or the most heavily-trafficked, show that we are clearly on track," Akamai Technologies spokesman, David Goodtree told the E-Commerce Times. "We'll just keep working down the list." ...

DLJdirect Readies Japanese Online Trading

DLJdirect is not stopping in Japan. Later this year, the company plans to introduce its services to the UK market, a company spokesman told E-Commerce Times Wednesday ...

Amazon Moves To Head Off NY Times Legal Threat

"They're taking the first step and choosing the forum and that's always a wise move, particularly if you are a smaller business up against a larger one," John Sedgewick, of the Lewiston, Maine law firm of Berman & Simmons, told the E-Commerce Times Friday. Sedgewick said he d...

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