Famous companies that were
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The original Napster which began operations in June 1999 was a P2P MP3 music file sharing site that was forced to liquidate in September 2002 under Chapter 7 bankruptcy laws due to massive copyright violations that the RIAA |
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Compaq started business in 1982 which was the same year IBM introduced their first personal computer. The IBM clone war was on as various manufacturers scrambled to build their version of IBM compatible PCs. Compaq came out on top with high quality versions that were faster and had better feature sets. Thus, Compaq was, at one time, the largest supplier of PCs in the world and the first company to gain Fortune 500 |
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boo.com was one of the more famous companies that went bust when the dot-com internet bubble burst around the turn of the century (1995-2000). The internet based "branded fashion apparel" boo.com went live in 1999 and was placed in United Kingdom based receivership and liquidated in 2000 having already burnt through 135 million dollars of venture capitol (and much more overall) in 18 months. Mismanagement and an overly complex website (that could take minutes to load over the common 56k modems of the day) contributed to the failure. |
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The consumer electronics brand RCA or Radio Corporation of America started business in 1919 with radios, then added phonographs (or records and record players), and by 1939 had black and white televisions (and interestingly the United States first TV test pattern |
Poloroid began business in 1937 and gained popularity with polarized sunglasses. In 1948 they released the instant film camera which kept them profitable until the end of the century when digital cameras took over. In 2001 Poloroid filed bankruptcy and sold nearly everything, including the Poloroid name. After over a decade of layoffs, acquisitions, bankruptcy filings, and general turmoil, the "new" Polaroid |
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Also, let's not forget some of the other well known businesses that failed, dissolved, or were bought out in recent history:
• Adelphia (cable company) • American Motors Corp. (AMC) • Arthur Andersen (accounting & consulting firm) • Atari, Inc. (still exists in small part) • Beatrice Foods • Bethlehem Steel • Burger Chef • Converse (shoe company) • Daewoo (conglomerate) • DeLorean Motor Co • Drexel (junk bonds) • Eastern Airlines • E.F. Hutton (broker) • Enron (Houston based energy company) • General Foods Corp. • Lionel Corporation (toys) • MCI WorldCom (mostly Verizon now) • Merry Go Round (clothing store) • Montgomery Ward (retail) • PaineWebber (brokerage) • Pan American World Airways (Pan Am) • Pets.com • Pullman Co.(ending w/ subway cars) • Ross (bicycles) • Standard Oil • Schwinn Bicycle Company • Tower Records • TWA (Trans World Airlines) • F.W. Woolworth Company (Woolworth's) • Zzzz Best (carpet cleaning)
Note: Even though many of these original companies failed, or did not fail and were purchased by others, the original brand names were often resurrected by those who had purchased or retained the rights.
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