Pop.com announced its formation back in late October of 1999, and the company’s original intention was to launch the site this Spring. Spring came and went, but there was no sign of Pop.com on the net.

Pop.com has allegedly spent about $7 million searching for an appropriate business plan. Yet, with the deflation of the bubbled net economy, the Hollywood heavies behind Pop.com couldn’t come up with a profitable business model.

The company was originally founded as a joint venture between DreamWorks SKG and Imagine Entertainment with the funding provided by Vulcan Ventures, Inc., the investment organization of DreamWorks investor Paul G. Allen. Pop.com’s founders included Steven Spielberg and Jeffery Katzenberg of DreamWorks and Imagine’s Ron Howard.

According to sources at Pop.com, it has now been decided that the site will not launch, and pink slips arrived on the desks of the staff yesterday morning. For the vast majority of the staff, Friday will be their last day. Some of Pop’s accumulated content may be showcased on countingdown.com, a site that Pop acquired at the beginning of the year.

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