Dot bites man . . . and woman-120 of them, in fact. Online pet store Petopia.com laid off 60% of its employees Friday, after a much-anticipated deal for financing fell through Wednesday.
Did the pet paradise, as the company promotes itself, bite off more than it could chew? That may well be. With so many pet markets on the Internet, there may not be enough kibble to go around-at least, that's the buzz among analysts. Petstore.com shut down in June and sold most of its assets to rival Pets.com.
But Petopia isn't giving up. The company plans to continue taking orders, and it is still hoping for a shining knight to ride in with a great deal to save the market/pet-loving community.