Popular Power shuts down its services

San Fransico 16 March 2001 Popular Power, one of the many companies that try to sell spare computer time of PC's all over the world, has closed its business. The company was not able tto raise additional capital. In the first round, the company did get US$ 1.6 million. The 14 employees have been laid off.

"Popular Power is no longer in business. We are continuing to run our non-profit projects and will do so for as long as we are able." say co-founders Marc Hedlund and Nelson Minar on the Popular Power web site. " True to its name, Popular Power was a wonderful experience because of the people who gave their time, energy, enthusiasm, and financial support to its vision. Thank you to everyone who contributed to our efforts, thank you to the people who downloaded our client and supported our projects, and thank you most of all to the employees who made everything possible."

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