- Tram Ho
The past 10 years have been a period of great change in the global technology village. Technology achievements have almost brought all traditional businesses on the digital platform. The explosion of mobile devices and social networks has also fundamentally changed the way consumers and businesses interact.
However, the past 10 years have also been a painful time for many businesses, when they could not keep up with the changing hands like “storming” in the field of technology.
Dozens of reputable companies have collapsed. Some of them have been overshadowed by not focusing on investing and applying the latest technology, others are startup technology companies, incinerators, millions of dollars of investors’ money. from.
The aforementioned technology and media companies no longer exist, but their failure may be expensive lessons on how the economy has changed at such a rapid rate, and what might happen to businesses that can’t keep up with that race.
Here are the 13 most prominent businesses that have been officially bankrupt during the past decade.
Established year: 1985
Peak value: US $ 8.4 billion in 1994
Bankruptcy declaration: 2010
Although Blockbuster filed for bankruptcy nearly 10 years ago, there is still an exclusive private store branded Blockbuster in the world. This store is located in Bend, Oregon, USA.
Established year: 2005
Revenue peaked: US $ 140 million in 2010
Bankruptcy declaration: 2011
This solar-powered startup was the first to receive federal government loans in 2005. However, only six years later, the company officially closed. Just 5 months earlier, the company was still welcoming the official visit of the then-present president, Mr. Barack Obama.
Established year: 1992
Peak value: $ 53.3 billion in 2000
Termination of business: 2011
As one of the businesses benefiting most from the dotcom bubble event in 2010, Palm was priced higher than McDonalds, Chevron and General Motors.
Photo: Getty Images
Established year: 1982
Peak value: US $ 40 billion in 2000
Brand removal: 2013
Compaq was the largest computer manufacturer in the United States in the 2000s. After being acquired by Hewlett Packard for $ 25 billion in 2002, the company’s brand was officially gone into the past in 2013.
Established year: 1995
Peak value: $ 2.3 billion in 1999
Once the most popular search engine in the world, AltaVista was acquired by Yahoo in 2003. Yahoo finally dissolved the company in 2013.
2016: Friends Reunited
Established year: 2000
Value peaked at US $ 297 million in 2005
Founded 6 years earlier than Facebook, Friends Reunited is considered one of the first social networking platforms in the world, and very popular in the UK, before collapsing in 2016 when it was unable to compete. against the rivals.
Established year: 2012
Peak value: 740 million USD in 2015
Termination of business: 2016
This smartwatch brand has raised $ 10.3 million from Kickstarter, making it the most successful Kickstarter venture to date. The company’s owner declined an offer to buy the company back in 2015 for $ 740 million, and then struggled with tough rivals like the Apple Watch. He eventually sold his company to FitBit for less than $ 40 million in 2016.
Established year: 1998
Peak value: US $ 297 million in 2012
Vertu values its products in the high-end mobile segment. The company’s products cost $ 6,000 at the time of 2015. The company then struggled with major smartphone manufacturers and eventually collapsed in 2017.
Established year: 1999
Peak value: US $ 3.2 billion in 2014
Closed and liquidated: 2017
This company specializing in manufacturing consumer electronics used to be considered an attractive investment target. But the company officially collapsed in 2017 after being sued by its suppliers when it accused the company of being in debt.
Established year: 2003
Peak value: US $ 10 billion in 2014
Theranos officially collapsed when scientists and the media outlined the truths behind the ability to realize its promise – to perform blood tests with a single drop of blood.
Established year: 2010
Peak value: US $ 500 million in 2013
This social network was once considered a counterbalance of facebook, but this application quickly abandoned its users for many years, and that led to the collapse of the company.
Established year: 2001
Peak value: US $ 75 million in 2007
The browser application was acquired by eBay in 2007, but was eventually sold by eBay to its co-founders in 2009. Later, Mix acquired StumbleUpon and eventually shut down the company. But that was not the end of the company’s co-founder – Garrett Camp when he founded Uber in 2009.
2018: Alta Motors
Established year: 2007
Capital raised: US $ 45 million in 2018
The electric motorcycle manufacturer has successfully raised capital from many investors including Tesla co-founders: Marc Tarpenning and Martin Eberhard. Sadly, the company was unable to sustain its manufacturing operations.
Source : NDH