The growing number of influential Weibo commentators are increasingly opening their own online shops or promoting products.
Online sporting goods retailer Fogdog Sports President Tim Joyce has left the company for personal reasons, says the Redwood City, Calif.-based firm. CEO Tim Harrington is assuming Joyce's responsibilities and is not seeking a replacement at this time. Joyce joined the company last September after 20 years as a Nike sales executive.
Meanwhile, for the second quarter ended June 30, Fogdog has reported net revenue of $5.8 million, up more than 700% from $700,000 reported in second-quarter 1999, and up 24% from the first quarter. Net loss for second-quarter 2000, excluding noncash charges, was $12.0 million, versus a net loss, excluding noncash charges, of $3.7 million for second-quarter 1999. Net loss for second-quarter 2000, including noncash charges, was $17.6 million, the company says.
"These are very positive results in what was a turbulent quarter for e-commerce," says Harrington. "We made substantial improvement on our gross profit margins as well as significant reductions in our spending."