Bright Station, the internet company which bought the assets of Boo.com, has lost £111 million in the first quarter of 2000 after writing off most of its information database assets.
The company now intends to establish itself as an internet software and investment company. It changed its name from Dialogue Corp after selling the information business. It is now free from debt, and intends to focus fully on developing its products.
Dan Wagner, chief executive, has indicated that Bright Station does not expect to make any profit for at least two years. He said the company was in talks to licence Boo.com's technology to other companies, which would enable them to sell over the internet without having to develop their own software.