The Failure Of Ventro
from the from-incredibly-huge-to-forgetably-miniscule-in-months dept
There were lots of dot coms that have failed over the past couple of years, but very few have fallen from such heights as Ventro. The LA Times (whose dual pop up ads are really beginning to piss me off) has an article talking about the collapse of Ventro and how its CEO went from being one of the most sought after speakers to the head of a company that has lost a ridiculous amount of money, laid off most of its staff, and isn’t making a dime in operating revenue. It seems they, like so many other dot coms, never stopped to see if (1) their idea was viable to their customers and (2) if they could actually build what they said they would build. Oops. Someone I know who was, at one point, pretty high up on the food chain at Ventro once told me that most of their technology didn’t work at all, but that the executives were so full of themselves they really thought that if they willed it enough, everyone would just keep throwing money their way.