The stock plummeted. Yes, you read it right. But Breakaway didn't die. Unlike some of its competitors it was able to find new money. The company has scaled back its services and is focusing on the handful of tasks it does best.
Expenses are down sharply.
Employees are motivated by the prospect of interesting work, not stock options, according to Loftus. The company has no immediate plans to go private, but Loftus would not rule out that possibility. The Boston start-up got going in the summer of 1999. By the spring of 2000 it had a Web site of legal information that consumers could use. Earlier this year Mycounsel launched its true business - a service that matches up clients with lawyers in their area.