Word: cyberchat
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Even growing companies have shut down in the face of VC disdain and looming cash shortages. Three weeks ago, Kibu.com a start-up that had made healthy inroads in the teen-girl market by building a cyberchat "hangout," shocked analysts by closing while it still had a healthy bank balance. The reason? Kibu was unlikely to be "valued appropriately"--in other words, stupefyingly overvalued--by a market that has lost its appetite for IPOs. So it gave investors some of their money back. Indeed, the shell-shocked look on the faces of dotcomers who only yesterday had dreamed of Maseratis...
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