Laugh­ing stocks: meet the big­gest losers of the dot­com crash

Australian T3 - - START-UP BOOM -

Boo.com

In­fa­mous for burn­ing through US$185m fund­ing in six months, the on­line fash­ion re­tail site, founded by three Swedes, didn’t work on dial-up.

We­b­van

This gro­cery de­liv­ery com­pany was worth US$1.2bn at its peak, but shut up shop early in 2001, cost­ing 2,000 people in the US their jobs.

Beenz

Pre-Bit­coin, this early e-cur­rency was earned by brows­ing and shop­ping on­line. The firm raised over US$80m in cap­i­tal, but went bust in 2001.

Pets.com

Re­mem­ber the an­noy­ing Su­per Bowl sock pup­pet ad? Af­ter that rather epic spend, Pets.com made a loss on ev­ery item de­liv­ered and was gone nine months af­ter list­ing.

Pul­sar

The shop­ping com­par­i­son tech made its 21-yearold cre­ator Ben Way an US$30m for­tune, only for it all to dis­ap­pear af­ter a painful dis­pute with in­vestors in 2001.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.