Boohoo - a Dotcom Story
Boo.com or popularly known as ‘Boohoo’ now was a British Internet company founded by Swedes Ernst Malmsten, Kajsa Leander and Patrik Hedelin. Launched in the Autumn of 1999, selling branded fashion apparel around the globe over the internet; the pioneers of online shopping as we are so used to and familiar with.
AN OVERVIEW:
Ever needed a lesson on how not to run a business?
That is exactly what boo.com provides as a lesson to all budding entrepreneurs. From its first conception in 1997 to its eventual collapse in 2000, the book follows the roller-coaster ride that was boo.com.
Boo.com was founded by Ernst Malmsten and Kasja Leander and was one of the few European companies that appeared during the dot com bubble. And hopefully it will serve as an example for future generations to be careful when it comes to placing expectations on young founders and new technology.
The company grew at such a rate that the co-founders Ernst and Kasja simply could not cope with it. Young as the founders were, their only discernible skills appeared to be in forging grand ideas and fundraising. Unfortunately, with the economy being what it was at this time many companies invested in internet ventures with the hope of a quick dollar. Under these circumstances the downfall of the company was pretty much a foregone conclusion, although it is tempting to think about the many 'what if? ' scenarios it presents in our minds.
Boo.com was overwhelmed with problems and mismanagement from the start. Its website relied heavily on Javascript and Flash which was really slow to load at a time when dial-up internet usage was the norm among the populace round the world. Boo.com spent a lot to market itself as a global company but then had to deal with different languages, pricing, and tax structures in all the countries it launched its website. The company also mysteriously decided to pay postage on returns, but even more importantly, sales never reached expectations. The company spent
AN OVERVIEW:
Ever needed a lesson on how not to run a business?
That is exactly what boo.com provides as a lesson to all budding entrepreneurs. From its first conception in 1997 to its eventual collapse in 2000, the book follows the roller-coaster ride that was boo.com.
Boo.com was founded by Ernst Malmsten and Kasja Leander and was one of the few European companies that appeared during the dot com bubble. And hopefully it will serve as an example for future generations to be careful when it comes to placing expectations on young founders and new technology.
The company grew at such a rate that the co-founders Ernst and Kasja simply could not cope with it. Young as the founders were, their only discernible skills appeared to be in forging grand ideas and fundraising. Unfortunately, with the economy being what it was at this time many companies invested in internet ventures with the hope of a quick dollar. Under these circumstances the downfall of the company was pretty much a foregone conclusion, although it is tempting to think about the many 'what if? ' scenarios it presents in our minds.
Boo.com was overwhelmed with problems and mismanagement from the start. Its website relied heavily on Javascript and Flash which was really slow to load at a time when dial-up internet usage was the norm among the populace round the world. Boo.com spent a lot to market itself as a global company but then had to deal with different languages, pricing, and tax structures in all the countries it launched its website. The company also mysteriously decided to pay postage on returns, but even more importantly, sales never reached expectations. The company spent
References: Brand Failures : The Truth About the 100 Biggest Branding Mistakes of All Time by Haig, Matt, 2011 Page-187