Can you Remember the Failed Companies of the Dot-com Bubble?
What online apparel site spent $188 million in six months creating its store? It took until September 2010 for the financial software company Intuit to recover from its near-death in the dot-com bust, but it did, and today it is the maker of both Quicken and TurboTax software. As it prepared to go public, two things happened that the site couldn’t survive: the dot-com bubble popped and Napster launched. What digital music download site was online before Napster and iTunes? Which financial software company is one of the few to recover from the dot-com bust and today makes both Quicken and TurboTax software? Rimoteca became the top site for Latin digital music sales, with more than 500,000 tracks.
Before BiTorrent, and sites like Napster, AudioGalaxy was the first to offer a desktop application for easier searching, browsing and downloading. What online sporting goods company was backed by John Elway, Wayne Gretzky and Michael Jordan? The founder of what site, forerunner to what we know as social media, became a symbol of dot-com excess? MVP was ready to shut its doors by early 2001 after failing to meet its end of a four-year contract with CBS.
Whether it was in Silicon Valley, Silicon Alley, or any other part of the country (yes, there was also a Silicon Prairie, Silicon Desert, and Silicon Bayou, too), early e-commerce and content sites were hit hard when the dot-com bubble peaked on March 10, 2000. See if you remember the Web companies that didn’t make it. What online pet food retailer had a dog-like sock puppet mascot? Today, the pet food delivery market is estimated at $3 billion. Which online toy store, with the motto “Childhood Dreams Delivered,” was founded in 1997 and was bankrupt by the beginning of 2001? The company did not file for bankruptcy, however.
It wasn’t Marketplace or Amazon Prime that kept Amazon afloat during the dot-com crash. Ask Jeeves, founded in 1997, was the first search engine that encouraged users to ask questions in everyday language rather than searching with one or a few keywords. Those were both launched afterward. Amazon not only invested in its own infrastructure, it had a well-timed infusion of funding from overseas investors just before the bubble began to burst. The original idea behind what search engine was to let users pose questions in everyday language rather than keywords?
As the dot-com bubble began to deflate in March 2000, InfoSpace’s stock dropped, too, falling to only $1.56 by July 2001. After a series of lawsuits against InfoSpace founder Naveen Jain and his company for misleading accounting and other shady practices, Jain later co-founded Intelius, conveniently located across the street from InfoSpace. What peer-to-peer music sharing service was first to use a desktop application for easier downloading? Lastminute.com’s IPO on March 14, 2000, unfortunately coincided with the burst of the dot-com bubble. What online travel booking service’s IPO unfortunately coincided with the burst of the dot-com bubble?
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