MyWay hitting the highway
By Jennifer Gilbert
CMGI-owned portal MyWay.com, Andover, Mass., which has struggled since launching in October to define itself--first as a consumer play then as a business-to-business outfit--is up for sale, according to an executive close to the company.
CMGI is selling the MyWay portal business but is retaining Zip2 Corp., which creates local portals for newspapers, the executive said. Zip2 had become a division of MyWay in January. The executive said it would be rolled back into another CMGI company or division.
A CMGI spokeswoman would not comment on the developments, but did say of MyWay, "I'm not saying it's not for sale.'' MyWay had hired Arnold Communications, Boston, to handle a $25 million to $35 million TV, print, radio and online campaign in October. Tim Davies, formerly group media director on the MyWay account at Arnold, confirmed that it was "not working with MyWay anymore,'' adding that CMGI "is going through various reorganizations to focus more on profit and revenue generation.''
At the end of April, MyWay cut about 10% of its staff, 27 people. Robert Alperin, senior VP at CMGI, stepped in as interim MyWay CEO after President-CEO Jeff Cunningham stepped down.
Copyright August 2000, Crain Communications Inc.