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Value America Inc

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BUSINESS
August 12, 2000 | Bloomberg News
Internet computer retailer Value America Inc., whose shares have fallen 93% in the last year, filed for Chapter 11 bankruptcy protection as it closed its online store and fired 185 people. The company said it will reorganize as a business helping manufacturers, distributors and vendors fill online orders and seek payment over the Internet. Value America began business with funding from such investors as billionaire Paul Allen's Vulcan Ventures Inc. and Frederick W. Smith, chairman of FedEx Corp.
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BUSINESS
August 12, 2000 | Bloomberg News
Internet computer retailer Value America Inc., whose shares have fallen 93% in the last year, filed for Chapter 11 bankruptcy protection as it closed its online store and fired 185 people. The company said it will reorganize as a business helping manufacturers, distributors and vendors fill online orders and seek payment over the Internet. Value America began business with funding from such investors as billionaire Paul Allen's Vulcan Ventures Inc. and Frederick W. Smith, chairman of FedEx Corp.
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BUSINESS
March 31, 2000 | Bloomberg News
Value America Inc., the Internet computer retailer whose shares have fallen 94% from last year's high, was told by its auditors that they have "substantial doubt" about its ability to stay in business. PricewaterhouseCoopers said that the company "has suffered recurring losses and negative cash flows from operations that raise substantial doubt about its ability to continue as a going concern," according to an audit report included in a regulatory filing.
BUSINESS
June 30, 2000 | From Times Wire Services
Two online retailers and the biggest U.S. office-supply chain have reached an agreement with the Federal Trade Commission to settle allegations that their advertisements promoting "free" and "low-cost" computer systems were deceptive and misleading. The FTC said that Buy.com Inc., Value America Inc. and Office Depot Inc.
BUSINESS
May 11, 2000 | Reuters
Beleaguered online retailer Value America Inc. posted a narrower-than-expected loss for the first quarter and said it has received commitments for as much as $90 million in additional financing. The company, which beat Wall Street analysts' earnings expectations by 10 cents per share, also said its recapitalization plan should lead to profitability by the beginning of 2002. The Charlottesville, Va.-based retailer posted a first-quarter loss of $27.
BUSINESS
June 30, 2000 | From Times Wire Services
Two online retailers and the biggest U.S. office-supply chain have reached an agreement with the Federal Trade Commission to settle allegations that their advertisements promoting "free" and "low-cost" computer systems were deceptive and misleading. The FTC said that Buy.com Inc., Value America Inc. and Office Depot Inc.
BUSINESS
April 7, 1999
Value America Inc., an online retailer of technology and consumer products, raised by 31% the expected price of the shares it plans to sell in an initial public offering today. The Charlottesville, Va.-based company plans to sell 5 million shares at $20 to $22 each, up from $15 to $17, according to an amended filing with the Securities and Exchange Commission. The sale represents a 12% stake.
BUSINESS
January 25, 2000 | Bloomberg News
It may be a new year, but the IPO market partied Monday like it was still 1999. Santa Clara, Calif.-based Neoforma.com Inc., whose Web sites connect medical equipment firms to hospitals and doctors, quadrupled as trading of the first major initial stock sale of 2000 began, bucking the broad market's downward trend. The stock (ticker symbol: NEOF) surged $39.38 to close at $52.38 on Nasdaq, giving the company a market value of $2.95 billion. Neoforma.com's surge on a day when so many U.S.
BUSINESS
July 7, 1998 | Bloomberg News and Times Staff
All you had to do was mention the "I" word. Companies clamoring, "We're doing something related to the Internet too," saw their shares surge as much as 118% on Monday: * Houston-based Zapata Corp., a former oil company turned fish processor, said it plans to split into two publicly traded companies, allowing one to focus on the Internet by investing in or acquiring 21 Web sites. The news sent the stock soaring $11.63, or 118%, to $21.50 on the New York Stock Exchange.
BUSINESS
July 7, 1998 | Bloomberg News
All you had to do was mention the I word. Companies clamoring, "We're doing something related to the Internet, too," saw their shares surge Monday: * Houston-based Zapata Corp., a former oil company turned fish processor, said it plans to split into two publicly traded companies, allowing one to focus on the Internet by investing in or acquiring 21 Web sites. Shares closed at their highest mark in more than 10 years.
BUSINESS
May 11, 2000 | Reuters
Beleaguered online retailer Value America Inc. posted a narrower-than-expected loss for the first quarter and said it has received commitments for as much as $90 million in additional financing. The company, which beat Wall Street analysts' earnings expectations by 10 cents per share, also said its recapitalization plan should lead to profitability by the beginning of 2002. The Charlottesville, Va.-based retailer posted a first-quarter loss of $27.
BUSINESS
March 31, 2000 | Bloomberg News
Value America Inc., the Internet computer retailer whose shares have fallen 94% from last year's high, was told by its auditors that they have "substantial doubt" about its ability to stay in business. PricewaterhouseCoopers said that the company "has suffered recurring losses and negative cash flows from operations that raise substantial doubt about its ability to continue as a going concern," according to an audit report included in a regulatory filing.
BUSINESS
June 5, 2000 | ROBIN FIELDS, TIMES STAFF WRITER
Ingram Micro Inc., the world's largest distributor of computer products, will announce today that it is shifting half its 8,000 U.S. work force into a new division that will act as a colossal delivery service for online retailers. The move by the Santa Ana company is aimed at creating a new source of revenue by using its network of warehouses and miles of conveyor belts to handle everything from books and compact discs to health and beauty products.
BUSINESS
December 30, 1999 | JONATHAN GAW, TIMES STAFF WRITER
As the dust settles in the aftermath of the holiday shopping season, sales by online retailers appear to have hit the high end of projections, with a study of Internet merchants released Wednesday estimating sales of more than $10 billion, more than triple the results in the same period last year. The figures from Boston Consulting Group come despite mounting reports of failures by Internet retailers and concerns that the rate of merchandise returned to online merchants will double.
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