IQ News: PowerAgent Goes Dim, Fails to Secure Financing

Less than two months after its official launch on the Web, PowerAgent, a much-watched startup, suspended operations late last week. The company, which promised to give consumers and advertisers true one-to-one Internet marketing, failed to get additional funding from its investors, which include several prominent venture capital firms.
In an internal email sent to PowerAgent staff, chief executive officer Dale Sundby wrote, “There is no alternative but to immediately suspend operations and attempt to restructure the company.”