NEW YORK — Theglobe.com Inc., one of the most spectacular IPOs of the dot-com era, said it plans to shut down its Web-community offering and look to sell its game-related operations. It will cut about half of its remaining staff.
In an announcement made late Friday, the company said the move reflected the “continued significant decline” in the online-advertising sector. The company said the closing of the community site will significantly reduce liabilities and cash burn, preserving capital.
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