Free Hosting Provider 07x.net Absorbs 40gigs.com

MECHANICSVILLE, VA (September 21st, 2008) -- Free Web hosting provider 07x.net ( http://www.07x.net ) has announced that it has absorbed the assets of 40gigs.com, a troubled free hosting provider that recently closed. Though 07x.net was not able to retrieve user data from 40gigs, the company now owns the 40gigs.com domain name and is offering a special package to welcome 40gigs users.

For the past couple of weeks, free hosting super-provider 40gigs.com was operating on the brink of dissolution, due to an unsuccessful attempt at moving to a new server provider. The company continued to work with its vendors through Saturday evening, September 20th, before making the decision to close its operations after it became apparent that the service would be down for at least an additional week. A deal was quickly reached by 07x.net to obtain ownership of the 40gigs.com domain name.

Both services are owned and operated by Mr. Daniel J. Briere, a serial entrepreneur in the Web hosting industry. In anticipation of the increasingly likely unresolvable situation at 40gigs, Mr. Briere had ordered an upgrade of the hosting plans at 07x.net to provide more features for users moving over from 40gigs, where a very large free hosting plan was offered.

'Sadly, this closure was not caused due to a lack of financial resources. We had money in the bank and a long-term sponsor which covered our operating costs through at least another year," states Mr. Briere. "Instead, this issue was primarily due to a conflict between the two primary vendors we have contracted with in the past for the 40gigs service. As of yesterday evening, we have effectively ended our relationship with both organizations, one temporarily and the other definitely on a permanent basis. It is just really sad to me to see something so silly ruin an experience for thousands of users. While I take responsibility for the vendor choice decisions made that led to this incident, I can also say that in the future we will outsource much less of our business to unknown quantities."

07x.net is fully capitalized and now also has the financial assets of 40gigs at its own disposal, including hundreds of dollars of capital each month now freed due to the termination of 40gigs' server leases. The service has already experienced growth in its userbase of 50% since Saturday evening.

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For more info, contact:
Daniel J. Briere, CEO
07x.contact@gmail.com
804-229-0583