PowerAgent, the ad promotion network that debuted last month, failed to secure a critical third round of financing at a meeting with investors on Sept. 24. Founder and CEO Dale Sundby announced layoffs for most staff members effective last week. In an e-mail memo to staff, he indicated "a couple" of staffers would remain on salary "to attempt to restructure the company," though details of plans for restructuring were unavailable at press time. President David Carlick was among those laid off.
GeoCities recruits exec from Disney
GeoCities today announces that Michael G. Barrett, former VP-advertising at Disney Online, is joining the Web home pages company as VP-advertising. Mr. Barrett replaces Paul DeBraccio, who joined Gen-X media company Tripod as VP-ad sales in August.
Prodigy shuffled management last week in a restructuring that will divide the company into three divisions. Russ Pillar, former managing partner at investment company Critical Mass, is now president-CEO of Prodigy Internet. The other new divisions are Prodigy Solutions, a division formed to develop and license software; and Prodigy International. Former Prodigy President-CEO Paul DeLacey will serve as strategic adviser to Prodigy Chairman Greg Carr.
In other news
Cone Communications, Boston, is opening a New York office and launching a Web marketing division called Cone Interactive
. . . Marketing communications company Pittard Sullivan, Culver City, Calif., is forming a new, in-house interactive division. . . . Dunstan Thomas, a U.K. software consultancy, today launches Shopping Explorer, a search application for online shopping.