FYI: Two decades after the dot-com crash, Pets.com remains the symbol of 1990s excess in initial public offerings. EBay is littered with listings for the pet supplier’s vintage sock puppets—the most tangible evidence of the company’s short existence. Today, the website, Pets.com, forwards to bricks-and-mortar retailer PetSmart.
When it filed to go public in 2000, Pets.com had lifetime revenue below $6 million and just a year of operations under its belt. Still, the company came public with a valuation of more than $300 million. Within a year, Pets.com had shut down. Investors lost everything and a legend was born.
Regards,
Ted
https://www.barrons.com/articles/the-realreal-is-no-pets-com-todays-ipo-market-is-not-the-dot-com-bubble-51561748039?mod=past_editions
