Bellevue's Webforia files for bankruptcy
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Bellevue-based Webforia, which sold online-communications tools and services to businesses, filed for Chapter 7 bankruptcy last week in U.S. Bankruptcy Court in Western Washington, according to court documents.
Members of the company's management and the company's bankruptcy attorney did not return phone calls seeking comment. It's unclear how many employees are out of jobs.
The company, founded in 1997, originally developed desktop software that allowed businesses to harness massive amounts of information on the Internet.
In early 2000, it switched to building Web sites for professional communities, where people could exchange information, read industry-specific news and purchase items and services.
Webforia made a $2 million investment in ScienceWise.com, an Internet portal for scientists and engineers and one of its clients. Webforia by then had raised $17.3 million in venture-capital funding.
Later that year, the company redirected its focus to selling online-communication tools and services to business after signing a $50 million deal with CNN to build a customized toolbar. CNN took a minority stake in the company.
A source familiar with the firm said most of Webforia's work, including its development team, was shifted to Belfast, Northern Ireland. Company President Garry Driver worked out of offices in Seattle and Atlanta.
Monica Soto may be reached at (206) 515-5632, msoto@seattletimes.com.