In its second-largest acquisition, Amazon buys the company for $970 million.
First quarter revenue at Jupiter Media Metrix grew to $29.6 million from Q1 2000’s $27.4 million. The company plans a lay-off to control costs.
First quarter revenue for researchers Jupiter Media Metrix Inc. grew 8% to $29.6 million from Q1 2000’s $27.4 million. Net loss, excluding amortization and one-time charges recorded during the quarter, was $10.8 million, compared with a pro forma net loss of $1.7 million for the same period 2000. Syndicated subscription services revenues increasing by 29%, the company reported.
The company also reported that it will reduce its workforce by 18%.
"Though our revenues were affected by the softening economy and the continued decrease in our dot-com client base, I am pleased to report that during the first quarter we completed the majority of the work to integrate our operations to realize the benefits of our merger," said Tod Johnson, chairman and chief executive officer of Jupiter Media Metrix.
The company reported that revenue growth for the quarter versus the first quarter of 2000 was driven by a 40% increase in measurement revenues to $14.3 million, and a 19% increase in research services revenues to $14.3 million. Event and other revenues were down 81% versus the first quarter of 2000 to $988,000, reflecting the decrease in the total number of events held during the quarter, combined with softer attendance and sponsorships at the forums.