January 19, 2001, 12:00 AM

No Launch For Dnet

DNet, an Internet-based same-day delivery service scheduled to launch this fall, is shutting down its operations. The San Francisco-based company planned to use an Internet software system to broker deliveries between Web-enabled retailers and local courier companies that serve most metropolitan areas using its Internet software. DNet raised over $1 million in seed money from venture capitalists and private investors, but was unable to secure the necessary funding to build out its service. "The same day delivery market is in the dumps from a financial perspective," explains DNet Chief Executive Officer Chris Moore. "Without the confidence that they could finance the company through to the public market, our board of directors decided to wind down the company."

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