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Published on .

(Aug. 6, 2001) -- Rewards Web site Cybergold, which merged with MyPoints.com last August and counted ad industry giant Jay Chiat as a founder and board member, announced it will shut down Aug. 31. In the meantime, Cybergold is offering members a reduced set of merchandise and services to earn and spend cash on until the end of the month.

Parent company MyPoints.com will continue to operate. VAL Corp., parent of United Airlines, in June agreed to buy MyPoints.com. -- Adrienne Mand

Copyright August 2001, Crain Communications Inc.

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