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Drkoop Com Inc

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BUSINESS
April 3, 2001
Internet health network Drkoop.com Inc. reported a net loss of $22.8 million, or 59 cents per share after accounting changes, for the fourth quarter. That compares with a net loss of $19.9 million, or 65 cents, a year ago. There were more shares outstanding in year 2000. Revenue fell to $1.3 million from $5.1 million a year ago.
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BUSINESS
July 16, 2002 | DAVID COLKER, TIMES STAFF WRITER
Attention shoppers looking for dot-com bargains: It's now possible to snap up an entire up-and-running e-commerce site, complete with nearly 1 million registered subscribers and a celebrity name, for less than a house in Palmdale. Drkoop.com Inc., once a stock market darling worth more than $1 billion, has been sold in Bankruptcy Court for $186,000 to a Florida e-commerce company, Vitacost.com. Drkoop.com, which filed for bankruptcy protection in December, racked up more than $5.
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BUSINESS
January 17, 2001 | Bloomberg News
Drkoop.com Inc., a money-losing health Web site, plans to move its headquarters to its Santa Monica office from Austin, Texas, where it will eliminate 45 jobs. The company also will transfer some of its sales force to Philadelphia. The change will help reduce expenses to less than $1 million a month from $8 million a month almost a year ago, the company said. In August, Drkoop.com said it planned no more job cuts after firing 42 people, reducing its staff to 79. Shares of Drkoop.
BUSINESS
December 17, 2001 | From Reuters
Dr. Koop LifeCare Corp., the troubled Santa Monica-based online health information provider, said on Sunday it would cease operations and liquidate its assets after failing to come up with additional debt or equity financing. One of countless online firms that soared on Wall Street during the 1999 Internet boom, the company said its efforts to obtain additional financing and sell certain assets were unsuccessful, leaving it with little choice but to shut its operations.
BUSINESS
August 17, 2000 | Associated Press
Ailing Drkoop.com Inc. said it will be late in filing its quarterly financial report because it is negotiating new financing and possible "strategic transactions." The negotiations, including a possible sale of the Austin, Texas-based online health company, have taken up the time of the company's financial staff, it said in a filing with the Securities and Exchange Commission. The company said last month that it expects to post a loss of $1.15 to $1.18 a share. Shares of Drkoop.
BUSINESS
November 16, 2000
* Internet health company Drkoop.com Inc. said its third-quarter net loss widened to $57.9 million, or $1.60 per share, including various expenses and items, compared with $20.6 million, or 68 cents, a year ago. Operating losses rose to $23.1 million from $21.1 million. Revenue fell 30% to $2 million. The loss in the 1999 quarter was $20.6 million, or 68 cents a share. During the quarter, the Austin, Texas-based company cut more than 30% of its work force and installed a new management team.
BUSINESS
May 20, 2000 | Reuters
Embattled Internet health company Drkoop.com Inc. said it has laid off about 35% of its staff since the beginning of April, a move analysts said makes the company a more attractive takeover target. Earlier this week, reports suggested that Drkoop.com was going to merge with Drug Emporium Inc.'s unprofitable online unit. Neither company would comment, but analysts said the sweeping layoffs could indicate an acquisition is in the works. Drkoop.com had 185 full-time employees as of Feb. 29.
BUSINESS
August 31, 2000 | Associated Press
Drkoop.com Inc. has slashed its work force for the second time in three months, saying the layoffs are part of a new corporate restructuring plan aimed at cutting costs. Late Tuesday, the Austin, Texas-based company announced it was cutting 50 positions, about one-third of its current work force. The move came on the heels of an announcement Monday that Drkoop.com had secured $27.5 million in new financing and revamped its management team. The company, co-founded by former U.S.
BUSINESS
August 23, 2000 | Bloomberg News
Drkoop.com Inc., a health Web site co-founded by former U.S. Surgeon General C. Everett Koop, received a $20-million investment in exchange for control of the company as it was running out of cash. The investors, who include Prime Ventures, can convert the financing into a controlling stake and have the right to choose as many as four board directors. Three officials from Prime Ventures, which will chip in $3.5 million of the financing, have been named to top executive posts in the company.
BUSINESS
May 3, 2000 | Bloomberg News
Drkoop.com Inc. gave its chief executive a short-term loan of nearly $1 million for "personal liquidity needs" earlier this month, after company shares plunged more than 50% over two trading days. Donald Hackett, who also is president of the Austin, Texas, online health-care site, borrowed $966,000 from Drkoop.com on April 3, according to a filing with the Securities and Exchange Commission. He repaid the no-interest loan in full on April 10. On April 3, the day the loan was made, Drkoop.
BUSINESS
April 10, 2001 | Bloomberg News
ConnectivCorp, which links drug companies and other health-care providers to consumers on line, said it plans to announce a partnership with Drkoop.com Inc. to create a sexual health center on the Web that provides information on disease, dysfunction and other topics. ConnectivCorp said it will get access to the 2 million registered users of health Web site Drkoop.com, which will gain New York-based ConnectivCorp's content. The site, SexHealth.
BUSINESS
April 3, 2001
Internet health network Drkoop.com Inc. reported a net loss of $22.8 million, or 59 cents per share after accounting changes, for the fourth quarter. That compares with a net loss of $19.9 million, or 65 cents, a year ago. There were more shares outstanding in year 2000. Revenue fell to $1.3 million from $5.1 million a year ago.
BUSINESS
January 17, 2001 | Bloomberg News
Drkoop.com Inc., a money-losing health Web site, plans to move its headquarters to its Santa Monica office from Austin, Texas, where it will eliminate 45 jobs. The company also will transfer some of its sales force to Philadelphia. The change will help reduce expenses to less than $1 million a month from $8 million a month almost a year ago, the company said. In August, Drkoop.com said it planned no more job cuts after firing 42 people, reducing its staff to 79. Shares of Drkoop.
BUSINESS
November 29, 2000 | Reuters
Beleaguered health Web site Drkoop.com Inc. said it rehired PricewaterhouseCoopers as its independent auditor and filed for a secondary offering of 117.7 million shares. The auditor had notified Drkoop.com that it was resigning after the company completed its private placement of $27.5 million of preferred stock and warrants in August. Drkoop.
BUSINESS
November 16, 2000
* Internet health company Drkoop.com Inc. said its third-quarter net loss widened to $57.9 million, or $1.60 per share, including various expenses and items, compared with $20.6 million, or 68 cents, a year ago. Operating losses rose to $23.1 million from $21.1 million. Revenue fell 30% to $2 million. The loss in the 1999 quarter was $20.6 million, or 68 cents a share. During the quarter, the Austin, Texas-based company cut more than 30% of its work force and installed a new management team.
BUSINESS
September 4, 2000 | ASHLEY DUNN, TIMES STAFF WRITER
Richard Rosenblatt, 31, was one of the first entrepreneurs to strike out into the new world of e-commerce. He co-founded IMall Inc. in 1994 and went on to sell it five years later to Excite@Home for $565 million. He is now the head of the Santa Monica venture capital firm Prime Ventures. Last month, his company joined with a group of other investors to take over one of the most troubled companies in the "dot-com" world--Drkoop.com.
BUSINESS
April 10, 2001 | Bloomberg News
ConnectivCorp, which links drug companies and other health-care providers to consumers on line, said it plans to announce a partnership with Drkoop.com Inc. to create a sexual health center on the Web that provides information on disease, dysfunction and other topics. ConnectivCorp said it will get access to the 2 million registered users of health Web site Drkoop.com, which will gain New York-based ConnectivCorp's content. The site, SexHealth.
BUSINESS
November 29, 2000 | Reuters
Beleaguered health Web site Drkoop.com Inc. said it rehired PricewaterhouseCoopers as its independent auditor and filed for a secondary offering of 117.7 million shares. The auditor had notified Drkoop.com that it was resigning after the company completed its private placement of $27.5 million of preferred stock and warrants in August. Drkoop.
BUSINESS
August 31, 2000 | Associated Press
Drkoop.com Inc. has slashed its work force for the second time in three months, saying the layoffs are part of a new corporate restructuring plan aimed at cutting costs. Late Tuesday, the Austin, Texas-based company announced it was cutting 50 positions, about one-third of its current work force. The move came on the heels of an announcement Monday that Drkoop.com had secured $27.5 million in new financing and revamped its management team. The company, co-founded by former U.S.
BUSINESS
August 23, 2000 | Bloomberg News
Drkoop.com Inc., a health Web site co-founded by former U.S. Surgeon General C. Everett Koop, received a $20-million investment in exchange for control of the company as it was running out of cash. The investors, who include Prime Ventures, can convert the financing into a controlling stake and have the right to choose as many as four board directors. Three officials from Prime Ventures, which will chip in $3.5 million of the financing, have been named to top executive posts in the company.
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