On a clear day in August 1999, the new headquarters of drugstore.com, against the Blue Angels flying in formation on Lake Washington are practicing for their performance Seafare Cup hydroplane Peter Neupert was happy with the performance of his company's IPO. Just last month, July 28, 1999, drugstore.com burst into life as a public company. Shares at a price of $ 18 jumped to $ 69 on the first day of trading, providing an overall assessment of drugstore.com for $ 2.9 billion - and the record: drugstore.com was the fastest in the world would come to an assessment of $ 1 billion. The team created a virtual pharmacy online. During the first six months of its existence, more than 160,000 customers come to the store for more than 17,000 pharmacy products and medical products. Customer orders are sent electronically to distribution centers run by Walsh and distribution RxAmerica, located in Texas. Drugstore.com signed contracts outsourcing / partnerships to carry out orders to the two firms. For the six months ended July 4, 1999, drugstore.com. products sold around 168 000 customers, and had net sales of $ 4.2 million from an operating loss of $ 30 million. In June 1999, a drugstore.com 980,000 unique visits to its website over 560,000 unique visits a rival PlanetRx. "Hide
by Richard L. Nolan Source: Harvard Business School 23 pages. Publication Date: September 15, 1999. Prod. #: 300036-PDF-ENG
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