|[2001 Highs & Lows]
The Year in Review
[ Headlinks ]
[ Inside/Out ]
or the end of the dream
A year of economic downturn, layoffs and closures. 2001 put a stop to the Internet dream and was the year the word «dotcom» became unpopular.
Amazon still comes in first as the best performing e-commerce site with the nicest touch. Of note, their recently launched alternative web site designed for the visually impaired, Saluting the Troops and their honor program.
The Web's loss of some of the most innovative companies and a great magazine
The lights sadly went out on Webvan, Kozmo, eToys, Mercata, PlanetRx.com, theglobe.com, Voter.com. DrKoop.com and the staple news magazine of the Internet economy, the Industry Standard. Upside's dot com graveyard
21 Internet companies shut down or filed for bankruptcy in November, down sharply from the previous month and the lowest number since August of last year, according to a monthly report released in December. The tally is just 4 percent of the 2001 dot-com death count of 516 said Webmergers.com. Newsbytes
So far this year, job losses in California number 106,834 compared with 14,298 this time last June. (FT June 27)
Web failures climb to a record: The harsh environment faced by internet companies around the world was underlined by figures from Webmergers.com, a research group, showing a record 147 closed in the first quarter of the year, which compares to 222 failures during the whole of last year. (FT April 9 )
Manhattan-based recruiters and restaurant trade groups say as many as 15 percent of the applications for waiting jobs are coming from people whose Silicon Alley companies have retrenched or closed. FT
French venture-capitalist investment in European dot-coms dropped nearly 25% in the second half of 2000, compared with the year's first six months but the year overall produced a bumper crop of more than 900 million euros ($838.6 million) of high-tech fundings. WSJ March 12)
Up to 75 percent of online shoppers abandon their shopping carts before buying, according to Vividence. (Nuy Survey, November 12, 2001)
Research shows internet shopping is causing thousands of people to fall into debt. The UK study found each internet shopper spent an annual average of £700. (Ananova October 28)
Nearly one half of the U.S. population has made a purchase on the Internet, according to a new study by Nielsen/NetRatings and Harris Interactive. (WSJ April 24 )
Online Travel continues to be among the most efficient vertical industries on the Internet. According to Nielsen/ NetRatings and Harris Interactive, travel accounted fo one third of the online purchases in January 2001. (Cyberatlas March 20)
Published in 2001 : Understanding what happened
«Boo-Hoo», «A very public offering», «dot-bomb» and «the Future Just Happened».
There is no better way to understand and relive the Internet boom as through the eyes of the co-founders or people who worked for Internet companies Boo.com (Boo-Hoo) , theglobe.com (A Very Public Offering) and Value America.com (dot.bomb). As well as Michael Lewis' Next: The Future Just Happened on how the Internet has changed the way we live and work. All entertaining and insightful.
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