A few things were never intended to be, yet that does not imply that buyers won't stack millions of pounds on a bad idea - or perhaps a great idea that went bad. Whether or not they slumped and ripped or pulled investors dry, these investment strategies simply failed to work.
Amp'd Mobile: Amp'd Cell stands top for cash burning, with $360 million being ended up in bankruptcy. Their main concern was its clients' capability to invest. Whilst various other cellular companies verify for a capability to pay expenses in a month time, the company allow it until 3 months and promoted to those risky clients. It has been noted that 80,000 of its 175,000 clients were not able to pay their expenses.
Procket: This was one of the highly valued telecom companies in the U.S. The company had $272 million in capital along with a worth of $1.55 billion however was eventually bought by behemoth Cisco Systems Inc. for a deflating $89 million.
Webvan: Webvan had been a grocery delivery company which served 9 metro cities. However, in 2001, the business went bankrupt once it made plans to expand to 26 more cities with $1.2 billion budget. Regardless of millions in product sales, their collapse was due to a money-burn which surpassed product sales development. Significant buys included $1 billion for manufacturing facilities, business servers and much more than one hundred Aeron chairs.
Furthermore, it received HomeGrocer only a few months prior to going bankrupt. This quick growth turned out to be way too much for Webvan. This business that one time had around $800 million in venture capital ceased up with $830 million in deficits, approximately $40 million handy.
Caspian Networks: Caspian Networks, started as Packetcom Inc., had many highs and lows, including the 2002 failure; the business eventually closed down in 2006. Caspian Networks waved from $300 million in capital and 323 workers to much less than one hundred workers and shut its doors.
Pets.com: This symbol of the dot-com bubble expired in November 2000, heading from a listing in NASDAQ to bankrupt in barely 9 months. The business offered pet supplies and products over the web. After supported with $50 million by Hummer Winblad Venture Partners, Bowman Funds, and Amazon.com Inc., the company had potential and also purchased its rival Petstore.com.
However in the end, its inventory turned out to 19 cents for each share. Loved for its sock-puppet advertisements, the cost of its $1.2 million Tremendous Bowl advertisement, in addition to big infrastructure ventures, turned out to be to be a lot.
Optiva: Optiva, a nanotech organization that incorporated flat-screen Television models, had to be ceased when it did not succeed in raising capital. It primarily raised and functioned through $41.5 million in venture funding. The thing was that the company took much time to launch its item that was outdated by the time it arrived into the industry.
Kozmo.com: Kozmo.com's small products shipping and delivery service, with more than $250 million in investment, loved by college students and young individuals, eventually ended up in 2001. Its enterprise model was criticized as unsuccessful as it failed to charge for deliveries. Kozmo.com's downfall is documented in the e-Dreams documentary film.
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