[On a somewhat ironic note, I put the wrong name in the original version of this post.]
A big part of the dotcom boom was the idea that the surefire secret to success in the new economy was to have an online business, quickly line up tons of funding, bring in serious traffic and establish a strong brand through memorable, preferably edgy ads. (Thankfully, we've learned or lesson.)
Few companies took this idea further than Outpost.com.
The company expanded rapidly, taking advantage of the booming Internet. Revenue increased from $1.9 million in the year ended February 29, 1996 to $22.7 million in the year ended February 28, 1998.
In 1997, Money Magazine rated the site as "Best Site for Computer Equipment". Outpost.com raised $2.7 million in venture capital in 1997, at which point the site had 25,000 visitors per day and 1.3 million customers. The company secured another $22 million in financing in 1998, and raised another $70 million from its initial public offering. Outpost.com opened a warehouse in Ohio that could guarantee next-morning domestic delivery and worldwide delivery within 48 hours. Outpost provided next-day shipping on all orders, regardless of size, up until 2001.
After the dot-com bubble burst, the company fell on hard times. In 2001, the company entered into a merger agreement with PC Connection but then terminated that merger agreement and the company was sold to Fry's Electronics for $21 million including the repayment of $13 million in debt from PC Connection. At that time, the company had 1.4 million customers and 4 million visitors per month to its website.
I think you meant Outpost.com, not Outlook.comReplyDelete