French media group Vivendi Universal and German counterpart Bertelsmann have decided to shut down bol.fr, their book-selling web venture in France.

Effective 1 August, the closure follows bol.fr’s failure to attract enough customers and revenues to rival competitors such as France Telecom’s Alapage.fr, Amazon.com and the online services of retailer FNAC.

Like many dotcoms, bol.fr relied on selling advertising on its site to generate additional revenues, while spending heavily on its own marketing – a business model that largely seems to have failed.

News source: AdAge Global