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Pseudo on the brink
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September 18, 2000: 6:45 p.m. ET
Out of cash, Internet entertainment company lays off entire staff of 175
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NEW YORK (CNNfn) - The dot.com shakeout has claimed its latest victim. This time, it's Pseudo Programs, which provides interactive video programming over the Internet.
The financially strapped company has dismissed its entire remaining staff of 175 employees because it has run out of cash to continue operating.
"I basically fired my entire staff today," said David Bohrman, chief executive of the New York City-based company. Bohrman, formerly executive vice president of CNNfn, joined Pseudo shortly after he left that post last spring.
The privately-held company was founded in 1994 with financial backing from companies including FD5 S.A., Intel Capital, Prospect Street Ventures and Tribune Ventures.
It completed its last round of financing in May, raising more than $14 million.
Earlier this month, Internet news site APBnews.com had its assets sold at auction to satisfy the bankrupt company's creditor's claims. European online clothing retailer Boo.com also went belly up, shutting down its operations in May.
Several dot.coms are on the brink of running out of cash as well, including medical Web site drkoop.com, which has been steadily shedding its workforce as it struggles to reduce cash outlays and keep itself up and running.
The fate of Pseudo's brand name, online properties and other assets is still not clear. 
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Pseudo
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