Easier.co.uk, which acted as a portal for buyers and sellers in the
UK housing market, yesterday ceased operation after failing to find
a buyer for its business, on sale since November last year.
Toyzone, a UK on-line toy retailer, also went off-line.
The company spent £12 million promoting the site and its logo of
“no commission, no estate agents, no hassle”. Its revenue stream
was intended to come from the sale of user data to financial
institutions. The company decided to market its site when it
admitted that the business model was not working.
Toyzone, a UK internet toy retailer backed by PR agent Jonathan
Freud and entertainer Jonathan Ross, also announced yesterday on
its site that it is now “closed for business.”
According to the Financial Times, it raised £2 million in
funding in 1999 and subsequently made total sales of the same
figure. The Financial Times adds that the final decision by Toyzone
to cease trading was taken after US rival eToys announced this week
that it is filing for bankruptcy.
