Sign up now for TIME's WorldWatch email newsletter. A much-hyped dotcom has gone belly up. Certainly top investors including Goldman Sachs and Bernard Arnault, the French fashion tycoon, were sold. But last week, after just six months online, the boo bubble burst.
Many experts disagree.
Online clothing retailing remains a tiny market, and most shoppers look for discounts. And while the site was cutting-edge, it was slow to download, limiting its mass appeal. Even before the report, recent market turmoil among Internet stocks had already given investors the willies. Now they're likely to be further spooked by a boo. A much-hyped dotcom has gone belly up.