By Graham Hayday, 16 March 2000 14:59
NEWS Free UK ISP Freeserve is still losing money - but according to its latest financial results released today, its losses are slowing slightly. The company showed a pre-tax deficit of £3.5m in the quarter ending February 5, compared to £3.6m in the previous quarter. It had 1.8 million active registered accounts as of 5 February 2000, up 16 per cent on the previous quarter, with its site receiving 162.8 million page impressions in February 2000 - up 48 per cent on November 1999. Freeserve managed a 54 per cent increase in ecommerce and advertising revenue, which now constitutes over half of its total turnover of just over £5m for the quarter. The company also announced the acquisition of Smartgroups, a leading UK provider of community tools, and has launched Marketplace, an ecommerce package for SMEs.
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