The demise of the pulp and paper dotcoms continues after PaperExchange closed its European operation in London with the loss of all 17 jobs.


An unnamed US-based technology company has acquired the business operations of PaperExchange, and will continue to operate the companys US services.


We were actually making money in Europe, but it wasnt enough, and in the end we just ran out of time, said PaperExchange Europe managing director Colin Carroll (pictured).


I enjoyed the chance to expedite the e-commerce platform within Europe, and its been a blast, he added.


The news follows the demise earlier this year of fellow paper dotcom PaperX, which ceased trading in March (PrintWeek, 9 March).


Commenting on the recent launch of Exteriority (PrintWeek, 25 May), which acquired the software of PaperX, Carroll said he wished the firm the best of luck.


PaperExchange launched in 1998 in the US, billing itself as a global e-business marketplace for the pulp and paper industry.


After successfully gaining third-round funding in January 2000, the company launched its European operation with a base in London and announced a strategic partnership and alliance with International Paper.


Partners in PaperExchange included Internet Capital Group, packaging group the Kraft Group, International Paper, Bowater, Terrapin Partners and office supplies retailer Staples.


Story by Andy Scott