, a Cambridge, Mass.-based provider of free e-mail, is still in negotiations to either acquire additional funding or merge with a similar interactive company. The new-media startup had originally secured funding from CMG Information Services and Ameritech Corp., but needs to secure additional funding in order to support itself and its 40-person staff. If negotiations are not successful, the company will close its doors.
Since its launch last April, FreeMark has acquired just 40,000 subscribers and signed advertising deals with more than 50 national advertisers including Citibank, Nabisco Foods, Campbell Soup Co. and Time Life. Founder and CEO Robert Young stepped down from his position in October.
Copyright November 1996, Crain Communications Inc.