Low Quality IPOs Hit Post Dot-Com Bubble HighRupert Hargreaves
In 2000, as the dot-com bubble was in full swing, Pets.com, an online retailer of pet supplies went public. The company was less than two years old at the time. It began operations in November 1998 (although the actual domain name was registered in 1994) and was incorporated in February 1999. During the company's first fiscal year to September 1999, Pets.com earned $619,000 in revenue and spent $11.8 million on advertising.
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