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October 28, 1999 Explains $14.4m Loss as Investment in Technology

By CBR Staff Writer Inc, the Santa Monica, California-based provider of internet postage, has reported a net loss of $13.7m for the third quarter ended September 30, 1999. Executives said the loss is consistent with the company’s continued investment in technology and with a ramped-up marketing campaign ahead of the October 22, 1999 launch of its service. Earlier this week, signed up its 10,000th customer. The company boasts strategic alliances with IBM, 3M, Lotus and ZDNet, and has expanded its relationship with AOL. Last week it agreed to acquire internet shipping company for around $300m worth of common stock.

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