Deja Vu or History Repeats?
Following up on and concluding Reincarnation is Making A Comeback?...
And now we flash forward to news of the future...
Different indeed, Petstore, Petopia, Furniture; TheMan; Eve; Beautyjungle; iBeauty.com; Beauty; Reflect; BigWords, Boo; Flooz; Beenz; SpeedyBucks; Govworks; Ritmoteca; Boxman; Riffage; Music Bank; Digital Entertainment Network; eToys and Web Van, all come to mind.
The latter, a grocery delivery service, went from a $1.2B company with 4,500 employees to being liquidated in under 2 years. For an excellent run down of how many of the above failures, have been reincarnated with modern day counterparts, click here.
On demand dog walking? Really? A glorified pet sitting service bulletin board? This is kind of innovation we have come to expect from the best and brightest? This is what we need, want and must have? Holy dog crap Batman, this world is going to the dogs?
At the end of the day, when the dot.com singularity crashed the stock market, even good companies were sucked into the accretion disk, as Cisco lost 86% of its market cap. and Amazon fell from $107 to just $7, just to name two of the collateral damage and carnage involved.
With a veritable plethora of similar "investments", a Deja vu of late? When will they learn? There's one born every minute? and I guess reincarnation is making a big comeback? Barnum was right, putting away the Nattering soapbox now.
"Backing a really well thought out business plan and superbly intelligent business model, Hummer Winblad was involved in Pets.com's first round of venture funding, and Amazon.com purchased a majority 54% stake in the company.
The poster child of the dot.com Sillycon Valley plague of stupidity, the stock IPET, went from an IPO of $11 to a high of $14, then down to $0.19 the day of its liquidation announcement.
Now think about this latest reflation and parabolic run up in the Nasdaq and Russell 2000. It's different this time, right?"All told $147M, eventually ballooning to $300M of investment capital, in addition to peak stockholder equity of $300M, all vanished into the singularity of the Pets.com sock puppets mouth...
And now we flash forward to news of the future...
Dog-walking-on-demand startup Wag is getting a new CEO and a big infusion of cash. On Tuesday, the company announced it's received a $300 million investment from Japanese telecom giant SoftBank.Granted, Wag.com is an Uber or Lyft for rich, busy or lazy pet owners, probably replete with tie in services such as walking, sitting, grooming, veterinary and Pet.com like merchandising. And of course, like it always is, it's different this time.
Different indeed, Petstore, Petopia, Furniture; TheMan; Eve; Beautyjungle; iBeauty.com; Beauty; Reflect; BigWords, Boo; Flooz; Beenz; SpeedyBucks; Govworks; Ritmoteca; Boxman; Riffage; Music Bank; Digital Entertainment Network; eToys and Web Van, all come to mind.
The latter, a grocery delivery service, went from a $1.2B company with 4,500 employees to being liquidated in under 2 years. For an excellent run down of how many of the above failures, have been reincarnated with modern day counterparts, click here.
On demand dog walking? Really? A glorified pet sitting service bulletin board? This is kind of innovation we have come to expect from the best and brightest? This is what we need, want and must have? Holy dog crap Batman, this world is going to the dogs?
At the end of the day, when the dot.com singularity crashed the stock market, even good companies were sucked into the accretion disk, as Cisco lost 86% of its market cap. and Amazon fell from $107 to just $7, just to name two of the collateral damage and carnage involved.
With a veritable plethora of similar "investments", a Deja vu of late? When will they learn? There's one born every minute? and I guess reincarnation is making a big comeback? Barnum was right, putting away the Nattering soapbox now.
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