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Thursday, May 09, 2002|
DotCom For Sale Sign Comes Down
The cleanup of the DotCom boom (or was it bomb?) continues. Visitors to MutualFunds.com, the defunct spin-off from New England Funds (now CDC Nvest) may be surprised when they land at Mutuals.com instead.
The Dallas-based brokerage purchased the Web address for a reported $55,000. Rick Sapio, ceo of Mutuals.com was traveling and unavailable for comment in time for this story. Erik McDonald confirmed that the sale has taken place but declined to provide additional details. He added that the firm expects to make an announcement in the next few days.
The site was first put on the market in September of 2000 after the startup failed to gain traction. At the time the firm was trying to sell the name for a "premium" to fund its changing business plan.
The sale was being handled by one of the firm's venture backers located in San Francisco.
MutualFunds.com was originally formed by a team lead by Bruce Speca. At the time it had grand ambitions to become the mutual funds destination on the Web. When those plans failed, the firm refocused as a professional education and training services provider, before finally throwing in the towel.
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