Boo.com

Boo.com was a United Kingdom Internet company founded by Ernst Malmsten, Kajsa Leander and Patrik Hedelin that famously went bust during the dot-com boom of the late 1990s. Boo.com's intention was to sell branded fashion wear over the Internet; however, after spending vast sums of its venture capital, it eventually had to liquidate and was placed into receivership on May 18, 2000.

Aftermath

The biggest loser among boo.com's investors is Omnia, a fund backed by members of Lebanon's wealthy Hariri family, which put nearly $40 million into the company.

Related Topics:
Omnia - Lebanon - Hariri

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Creditors, most of whom are advertising agencies, are owed around $25 million. Over 400 staff and contractors were made redundant in London and around the world, and many had not been paid for several months.

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Fashionmall, which has been operating in the US since 1995, reportedly paid £0.25m for the Boo name and the Miss Boo character. Boo's main assets, its software, went to United Kingdom company Bright Station.

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In 2005 CNET called Boo.com the sixth greatest dot-com flop. http://www.cnet.com/4520-11136_1-6278387-1.html?tag=cnetfd.sd

Related Topics:
2005 - CNET

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