From 1995 to 1999, the U.S. experienced a period of incredible increase in its information technology (IT) sector. The IT industry, although it accounted for less than 10% of the U.S. economy's total output, contributed disproportionately to economic growth. One market that was especially bellicose was on-line pet supply retailing.
Two firms appeared as absolute play frontrunners: Oakland-based Petstore.com and San Francisco-based Pets.com. In the years that pursued, online pet supply retailers were broadly seen by the media as epitomizing the surpluses and the follies of dotcom speculative mania in the late 1990s that culminated in the 2000 stock market crash. In 2008, CNet pronounced Pets.com as among the greatest dot com disasters in history. But what led to the failure, and subsequent crucifixion, of these onetime media darlings? Were Petstore.com along with Pets.com the victim of poor strategic choices, a prohibitive and crowded marketplace, investor approaches that destroyed their chances of success, or perhaps merely bad luck or bad time?
PUBLICATION DATE: April 09, 2009 PRODUCT #: 809117-PDF-ENG
This is just an excerpt. This case is about INNOVATION & ENTREPRENEURSHIP
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