European lethargy helps US Web firms

Article Abstract:

The Financial Times has sent out a warning to Europe's established firms that American Internet companies entering Europe will benefit from the hesitant attitude displayed by their European counterparts. As the publication noted, the Internet is effectively being utilized by American online companies to reduce costs, streamline processes and lower inventory risks while Europeans have been mired in excessive bureaucratic regulations and general unease with the media.

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Cash for new European Web ventures

Article Abstract:

Several new Internet ventures in Europe have obtained substantial funding in Aug 2000. Efoodmanager, an online food company in the UK, received $5.1 million to finance its business-to-business (B2B) e-commerce venture. GloMedix, a B2B medial products marketplace in Bavaria, Germany, won an additional funding of 41.4 million from Deutsche Ausgleichsbank. Iglu.com, a UK travel company, obtained $4.04 million from its second round of financing.

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Company launches German version of Priceline.com

Article Abstract:

German venture capital group ihrpreis.de AG has launched its version of Priceline.com called ihrpreis.de that offers customers a wide range of products and services. The firm is confident of overcoming legal obstacles because it has studied the legal situation very carefully. One of the firm's partners is a legal expert who evaluated the firm's concept and saw to it that it does not violate German laws.

Germany

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