Loot, the free ads paper, is spinning off a separate online
operation to compete with auction sites such as QXL and eBay.
Loot.com, the web version of Loot’s classified paper, is breaking away
from Loot London Limited to expand its existing online ad service.
A new company, Loot.com Limited will now look after the site, which has
more than doubled its page impressions from 4,242,934 in July 1998 to
9,487,938 in July 1999 (Source: ABC // electronic).
Loot London Limited will keep control of Loot and both will operate
under parent company Loot Limited.
Loot.com, which also offers a free online auction service, is seeking an
additional marketing manager and other staff.
Loot.com marketing manager, Iqtadar Hasnain, said: ’We’re going to grow
our web operation and separate from the paper, so we can gain from its
experiences but not be tied by its limitations.’
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