By Sonya Rabbitte, 19 July 2000 13:18
NEWS An online trading group linking ethnic minority owned suppliers with Fortune 100 companies has gone bust just four months after starting up. Despite a recent boom in the B2B environment, M-Xchange.com blamed the closure on market difficulties, including problems in charging transaction fees and the reluctance of venture capitalists to invest in B2B ventures. The US-based company, founded by a former vice president of General Motors, was established to give minority owned businesses a route into the growing B2B market. A statement released by the company said: "Closing down operations is seen as the most prudent action at this time to conserve investor capital."
In order to post a comment you need to be registered and logged in.
Log in or create your silicon.com account below