Failure to attract new funding is a recipe for disaster

An Internet site backed by some of the UK's most famous chefs closed last week, as foodoo.com failed in its attempt to attract additional funding.

Launched in June, the site offered recipes from celebrities such as Sophie Grigson, Antony Worrall Thompson and Gordon Ramsey. Foodoo.com's backers hoped to make money from advertising and planned to sell food and wine online in the future.

Having failed to win an extra £10m, Foodoo.com's staff now faces voluntary redundancy.

It is the latest in a string of dot-com failures including Boxman and Clickmango. Both sufferred similar fates.

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