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Jupiter Communications projected online advertising revenue will hit $16.5 billion annually by 2005. A report released at the Jupiter Online Advertising Forum in New York said spending will increase 30% annually, up from $3.5 billion in 1999.

Furniture site Living.com filed for bankruptcy liquidation, laying off 275 employees. Leo Burnett USA, Chicago, which handled Living.com's offline and online advertising, said all its bills had been paid. Amazon.com was a big investor in Living.com.

Copyright August 2000, Crain Communications Inc.

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