THE BOOK OF LISTS: The 10 Biggest dotcom failures

campaignlive.co.uk, Monday, 17 December 2001 12:00PM

1. Excite@Home



One of the best-known names in the online arena filed for bankruptcy in

October. The future for its loss-making content businesses, including

the search engine and portal Excite with 110 million registered users,

remains uncertain. Shares that had once gone for $55 each were

trading at 15 cents before closure.



2. StepStone



In November, the job search site closed its operations in nine

countries, including the UK - making more than 500 people unemployed.

Channel 4 lost £2 million in sponsorship revenue. StepStone was

one of the last major standalone brands of the dotcom era.



3. Industry Standard



Founded in 1997, the magazine that symbolised the dotcom boom shut up

shop in August after falling victim itself to the internet economic

slump. Advertising revenue plummeted by 75 per cent in the first half of

the year and the magazine was set to make a loss of £35 million in

2001.



4. Deepend



September saw Deepgroup, the digital communications group that includes

the Deepend, Relish and Gluemedia agencies, go into liquidation. The

news came as a shock to all. Glue survived thanks to a rescue package

from St Luke's.



5. Trinity Mirror Digital



More than 130 staff were made redundant in October when the company

announced its plans to reintegrate its network of 13 regional sites into

its regional newspaper business. Staff on the relaunched Mirror.co.uk

and DailyRecord.co.uk were mercifully unaffected. The move was the

death-knell for TMD's plans to create a standalone internet brand.



6. 24/7 Media Europe



At its zenith, 24/7 - the online ad sales outfit - had 18 offices in 13

European countries but in September the company closed its doors after a

last-ditch rescue attempt failed. Thirty staff were made redundant.



7. Razorfish



The online agency shut its London offices in August seeing 50 jobs go to

the wall. Razorfish made the move after announcing poor quarterly

revenues. Two other offices, Milan and Helsinki, looked under threat as

well.



8. Loaded



IPC Media called time on the online version of the lads' magazine Loaded

in August. The previous month, IPC had been taken over by AOL Time

Warner - at the time of Loaded's demise the publisher announced that

another two magazine sites were to close; Unmissabletv.com and

BeMe.com.



9. NewMonday.com



Another job site goes under. The site launched last year at a cost of

more than £15 million but closed in October after failing to make

any impact in an already crowded online recruitment market. The site was

the baby of the recruitment company Ranstad Holdings and VNU.



10. Virginbiz.net



In a rare failure for Richard Branson, the site dedicated to the

nation's small businesses was forced to merge with a rival in November.

Launched in 1999, Branson's timing couldn't have been worse.



This article was first published on campaignlive.co.uk

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