InsideCRM has a list of what it says are the twenty worst VC investments of all time. See full details here, but here’s the quick list:
- Amp’d Mobile: $360 million raised, ended in bankruptcy.
- Procket: $272 million, sold for $89 million.
- Webvan: Valued at $1.2 billion, went bankrupt in 2001. Ate through $800 million in venture capital, ended with $830 million in losses.
- Caspian Networks: >$300 million in funding, closed doors.
- Pets.com: $50 million from Hummer Winblad Venture Partners, Bowman Capital, and Amazon.com Inc., did sock-puppet ads, then crashed.
- Optiva: $41.5 million, crashed.
- Kozmo.com: $250 million, liquidated.
- CueCat: $185 million from investors like The Coca-Cola Co. and General Electric Co., bombed.
- DeNovis Inc.: $125 million, closed.
- PointCast Inc.: Tens of millions of dollars in venture capital and a $400 million buy offer, then sold for $7 million.
- eToys: Backed by VC firms Idealab, Highland Capital Partners and Sequoia Capital, ended in bankruptcy.
- AllAdvantage: $135 million in venture capital down the drain.
- FastForward: $54 million into the company, bankrupt.
- Xoma: This 26-year old company has not earned a profit since its inception in 1981. [Update: This one should be taken off the list. It entered the black for the first time two weeks ago!]
- Flooz.com: $50 million, went broke.
- Vanguarde Media Inc.: $60 million in VC funding, went under.
- Pixelon.com: $16 million not remarkable, but burned through with remarkable style.
- Bolt Media Inc.: >$60 million in venture backing, shut down.
- DigiScents: $20 million in investment, shut down.
- Boo.com: $120 million, went bust.
[Update: Dan Primack has since produced another list, using a different method]
VB's research team is studying web-personalization... Chime in here, and we’ll share the results.