POMPANO BEACH, Fla. -- Responding to a published report that the
company's prospects are streaming downward, a spokeswoman said ByeByeNow.com
is on schedule to achieve profitability in the first quarter of
2001.
ByeByeNow.com, a privately held franchise group, is known for
its streaming video content of vacation properties and destinations
and for its high-profile front man, Regis Philbin.
A Gomez.com article on Oct. 24 described
ByeByeNow.com as "a company in disarray, with an out-of-control
cash burn rate, low staff morale and bookings that are way below
expectations." The article said the company, based here and headed
by former NBC executive Guy Pepper, axed 60 workers in October.
ByeByeNow.com, which has Worldspan as an equity and technology
partner, expects to record "close to $500 million in sales in
2000," spokeswoman Alys Daly said.
ByeByeNow.com, which funnels many consumer inquiries at its Web
site to franchise travel stores, has 298 franchise agencies. The
bulk came aboard through acquisitions, Daly said, but 24 stores
that were not part of acquisitions were signed in the last six
weeks.
Daly wouldn't confirm or deny the report that there were 60
layoffs at the firm in October. However, she did acknowledge that
layoffs have occurred since the summer as part of a
"restructuring." She said the layoffs were related to the
start-up's "ramping up" and that most occurred among production
crews and jobs related to data loading.