What does the Phrase Marriage Penalty Refer To?
Some other groups made similar efforts, and you can still peruse a lot of the old pages today. InfoSpace, founded in 1996 by former Microsoft employee Naveen Jain, provided a variety of Web-based content and services including phone directories, weather information, stock quotes and search engines. Wall Street analysts spoke highly of the company, and it was often touted as the next Microsoft. At its peak in early 2000, InfoSpace stock was worth more than $1,000 a share. This last one’s a little awkward. InfoSpace’s 2002 implosion was too dramatic to ignore. It first made money from ad fees and then made a foray into providing cell phone Web content, intending to make money through charges to cellular customers.
It also required lots of staff, and spent a massive amount on each warehouse for cutting-edge automation and servers to handle orders. The company had 750,000 customers in its remaining markets, but couldn’t woo enough new business to break even. Before the end, best place to buy condo in thailand Webvan closed in its Dallas and Atlanta markets to reduce costs. It also made some rookie mistakes like cutting produce quality in some areas to save money, which upset clients. Like many other dot-coms, the company fell victim to severe overspending and hasty expansion. In case you loved this article in addition to you want to get more info regarding Insurance kindly visit our own site.
Mattel purchased it in hopes of beefing up its own software offerings, but The Learning Company, which hadn’t developed a new hit in a few years, lost nearly $200 million within months of the sale. Gores spun off The Learning Company’s entertainment division to Ubi Soft Entertainment, and sold the educational division to Riverdeep, which later acquired Houghton Mifflin. Mattel’s Chairman and Chief Executive Jill Barad was forced to resign over the fiasco. Mattel sold The Learning Company to Gores Technology Group in 2000 for what was believed to be about one-tenth of its purchase price. Barad had worked her way up from product manager in the Barbie division, where she greatly improved sales.
Chan, Sharon Pian. “Mansions, cars, yachts, jewelry – then the bottom dropped out.” Seattle Times. Doan, Amy. “Mattel To Ditch The Learning Company.” Forbes. Dugan, Sean M. “Ding dong, the dot-coms are dead, but I won’t shed a single tear for their passing.” Infoworld. Cheng, Jacqui. “Geocities to close after 15 years of aesthetic ‘awesomeness.'” Ars Technica. Cook, John. “InfoSpace’s unusual evolution continues with $287 million purchase of TaxAct.” GeekWire. Cook, John. “InfoSpace changes name to Blucora.” GeekWire. Delgado, Ray. “Webvan goes under / Online grocer shuts down — $830 million lost, 2,000 workers fired.” San Francisco Chronicle.
