Top Tech Companies That Went Belly UpDamien Moye
Earlier this week, I did a report on the stock market demise of Blackberry. I thought about other once major tech giants that went down. Some had great promise at the beginning and just couldn’t evolve with the technology of today, others were doomed from the start. Guess who made the list?
10. 3D FX Interactive:They once led the field in 3D technology and graphics cards. By the late ’90s, lack of research and development caused them to build graphics card that were irreverent and they lost millions, filing bankruptcy in 2000.
9. Wang Laboratories: In the 20th century, they revolutionized computing, from calculators to data processing. This 1980 commercial claims they came up with the e-mail. If only they were around in the 21st century.
8. Ala Vista: In 1995, it was one of the first search engines to appear in this new phenomena called World Wide Web. But when the dot com bubble burst, so did Ala Vista. In 2003, it was bought out, and that company was bought out by Yahoo. As of 2013, there is no more Ala Vista website (all you’ll get is Yahoo’s search engine).
7. Commodore: Remember the Commodore 64? This early home computer system was so popular that in the mid 1980s, it owned up to 40% of that market. Then Apple and other competitors stepped up their game and Commodore became a childhood memory.
6. MSN TV: “I can watch the TV and the Internet all in one?! Sign me up!” For many years, this was the reaction for many. Then came Netflix, You Tube, Hulu, etc. MSN TV will be shutting down on September 30, 2013.
5. Palm Computing: It was one of the first smartphone companies. Their Palm Pilots were one of the first hand held devices on the market. Their stocks were once $95 and by 2001, they were $6.50. They’re now owned by HP.
4. Napstar: It was the first file sharing network in Internet. It also got them in major copyright trouble, even landing them on Capitol Hill. It’s infamous history is now captured on big screens as well as in documentaries.
3. My Space: In the mid 2000s, My Space was all the social media rage. But Facebook came up with a better social media product. By the time Twitter got popular, My Space became a second class citizen. Yes, it’s still around, but when was the last time the My Space CEO made Time Magazine’s Man of the Year?
2. Blackberry: As I reported a few days ago, their stocks are null and void. And they struggle to keep up with the competition. As they look to be bought out, can they make a comeback?
1. America Online: For a long time, they led the league in all things computer technology. As they entered to the 2000s, they could do no wrong. But by decades end, US subscribers crumbled to 5 million, down from 27 million in 2001-02. They ended their relationship with Time Warner. But it looks like things are starting to turn around. In 2013, they reported their first quarterly revenue in eight years. Can they turn it around?