- Founded: 1998
- Ceased Operations: 2000
- Fate: Liquidated
What did Pets.com do?
Pets.com was an online retailer that sold pet supplies and accessories through its website during the late 1990s and early 2000s. It was among the first to sell pet supplies on the internet, featuring the slogan “Because Pets Can’t Drive.”
Pets.com was founded in 1998 and became well known for its sock puppet mascot, which appeared in television commercials and other advertising campaigns. At its peak, Pets.com employed 320 people.
Who ran Pets.com?
Wainwright, in particular, played a key role in the early success of Pets.com. Prior to founding the company, she had worked as a marketing executive at companies such as Reel.com and Berkeley Systems. Her experience in online marketing helped to build Pets.com’s brand and create a strong online presence.
What went wrong at Pets.com?
Despite a successful IPO in 2000, Pets.com struggled to turn a profit due to high overhead costs and fierce competition from other online retailers such as Amazon.com. The company spent heavily on marketing and advertising, but failed to generate sufficient revenue to cover its expenses.
In November 2000, less than a year after going public, Pets.com announced that it was shutting down its operations and liquidating its assets. The company had reportedly lost over $147 million in just nine months of operation. The failure of Pets.com has since become a cautionary tale in the business world about the dangers of over-expansion and excessive spending without a clear path to profitability.