Sometimes I feel a little sorry for Julie Wainwright, the co-founder and CEO of Pets.com. The online retailer became the poster child for the excess of the dotcom bubble. Shortly after the company listed in New York in 2000, it was valued at $US1.2 billion – despite generating only $US5.8 million in revenue.
Sure, a price-to-sales valuation of 207 times does look a bit silly in hindsight. But it pales in comparison with the latest example of tech valuation craziness.
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