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Due to delays in the project, Dorman resigned as CEO in March 1999. Two weeks later, PointCast was informed that their planned acquisition had been scrapped. In the reorganization that followed, 75 of the 220 employees were let go in an effort to reduce costs. A number of bids were made to buy the
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in preference to cable modems. The project was dubbed "Newnet" and the plan was to use PointCast's software as a portal for the service. The consortium planned to buy PointCast for $ 100 million as part of the deal. The deal was signed in
December 1998 with the intent of launching the service in
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use, and was banned in many places. It demanded more bandwidth than the home dial-up
Internet connections of the day could provide, and people objected to the large number of advertisements that were pushed over the service as well. PointCast offered corporations a proxy server that would
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was chosen as the new CEO. In an effort to raise more capital, Dorman planned to take the company public. A filing was made in May 1998 with a valuation of $ 250 million. This plan was abandoned after two months in favor of looking for a company with whom to partner or be acquired.
132:, which was a new concept at the time, and received enormous press coverage when it launched in beta form on February 13, 1996. The product did not perform as well as expected, often believed to be because its traffic burdened corporate networks with excessive
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dramatically reduce the bandwidth used, but even this didn't help save the company. The increasing popularity of "portal websites" also accelerated the demise of PointCast. When PointCast first started,
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made an offer of $ 450 million to purchase the company. However, the offer was withdrawn in March. While there were rumors that it was withdrawn due to issues with the price and revenue projections,
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EntryPoint merged with
Internet Financial Network in 2000 forming Infogate, continuing the same free service until switching to a fee-based co-branded model, partnering with news outlets such as
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in March 2003. Infogate senior executives Cliff Boro, Vidar
Vignisson, and Tom Broadhead formed CVT Ventures, LLC, a venture-development group dedicated to accelerating technology startups.
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Launchpad's eWallet product was combined with the existing PointCast technology to create EntryPoint, which had a free desktop toolbar and offered customized news, stocks and sports feeds.
168:. Some reasons included turning down the recent purchase offer, software performance problems (using too much corporate bandwidth) and declining market share (lost to the then-emerging
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Instead, they sold out for about $ 7 million in May 1999 to
Launchpad Technologies, Inc., a San Diego company founded and backed by
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145:), but was soon to introduce the portal which was customizable and offered a much more convenient way to read the news.
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Shortly after not accepting the purchase offer, the board of directors decided to replace
Christopher Hassett as the
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that displayed news and other information, delivered live over the
Internet. The PointCast Network used
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offered little more than a hierarchical structure on the
Internet (broken down by subject much like
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company, including two from former CEO Christopher
Hassett, which were rejected.
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In August 1998, PointCast found such a partner. In order to compete with
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Digital Age (formerly DEC Professional: an independent magazine from
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Mark
Mcadden (April 1997). "Singin' the Broadcast Bandwidth Blues".
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founded in 1992 by Christopher R. Hassett in Sunnyvale, California.
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209:, and the PointCast network was shut down the next year.
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Himelstein, Linda & Siklos, Richard (1999-04-26).
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41:
360:"PointCast: The Rise and Fall of an Internet Star"
193:put together a project designed to promote use of
338:Kawamoto, Dawn & Borland, John (1999-05-10).
149:News Corporation purchase offer and change of CEO
425:"PointCast ex-CEO looks to re-acquire company"
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331:
295:World Wide What? The Internet's 10 Worst Ideas
517:Defunct online companies of the United States
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444:"PointCast rejects founder's buy-back offer"
385:"PointCast strategic investor becomes buyer"
124:The company's initial product amounted to a
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463:"PointCast bows out for a mere $ 7 million"
189:, a consortium of telephone companies and
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161:said it was due to PointCast's inaction.
527:Companies based in Sunnyvale, California
532:Internet properties established in 1992
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256:"PointCast unveils free news service"
7:
406:"PointCast sacks third of workforce"
103:Acquired by Launchpad Technologies
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340:"PointCast acquired by Idealab"
314:Meyer, Katherine (2006-05-03).
283:When pushed too far, shove back
153:At its height in January 1997,
1:
461:Lettice, John (1999-05-11).
254:Aguilar, Rose (1996-02-13).
172:sites.) After five months,
55:; 32 years ago
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442:Smith, Tony (1999-04-21).
423:Smith, Tony (1999-04-06).
404:Smith, Tony (1999-04-02).
383:Smith, Tony (1998-12-03).
258:. News.com. Archived from
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481:"Welcome To EntryPoint"
321:The Wall Street Journal
316:"The Best of the Worst"
277:Cardinal Business Media
233:. Infogate was sold to
80:Christopher R. Hassett
45:Software Development
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18:PointCast (dotcom)
120:PointCast Network
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16:(Redirected from
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483:. Archived from
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372:on 1999-11-10.
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281:. p. 40.
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262:on 2011-06-16.
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489:. Retrieved
485:the original
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467:The Register
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448:The Register
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429:The Register
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410:The Register
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390:The Register
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370:the original
365:BusinessWeek
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260:the original
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198:April 1999.
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174:David Dorman
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342:. News.com.
126:screensaver
506:Categories
491:2008-01-11
241:References
213:EntryPoint
170:Web portal
70:California
227:USA Today
191:Microsoft
134:bandwidth
110:PointCast
66:Sunnyvale
28:PointCast
299:Fox News
221:Infogate
42:Industry
207:Idealab
90: (
85:Defunct
77:Founder
58: (
50:Founded
112:was a
187:@Home
139:Yahoo
229:and
143:DMOZ
100:Fate
92:2000
88:2000
60:1992
53:1992
522:AOL
279:Inc
231:CNN
195:DSL
166:CEO
64:in
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