Pets.com

Pets.com is a former dot-com enterprise that went bankrupt in 2000. Its former Nasdaq stock symbol was IPET. Today it is considered a leading icon of the dot com bust of the early 2000s.

Related Topics:
Dot-com - 2000 - Nasdaq - Dot com bust - 2000s

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The business aimed to sell pet accessories and supplies over the World Wide Web, analogous to Webvan's attempt to sell groceries, and garden.com's try at selling garden supplies online. The company subscribed to the dot-com philosophy that making a brand name known was as or more important than profitability. Pets.com actually succeeded wildly in making its brand name known.

Related Topics:
Pet - World Wide Web - Webvan - Garden.com

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However, because Pets.com was never anywhere close to profitable, it was still forced to close its doors. That announcement was made on the afternoon of November 6, 2000. Pets.com stock had fallen from over $11 per share in Februrary 2000 to $0.19 the day of its bankruptcy announcement. At its peak, the company had 320 employees. Pets.com was 30% backed by successful dot-com company Amazon.com. Nowadays, the domain name pets.com redirects to PETsMART's website.

Related Topics:
November 6 - 2000 - Amazon.com - PETsMART

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