This post is a follow up to yesterday's about the early stages of the Internet bubble collapse. Meet the Dumbest Dot-com in the World is both sad and hilarious. It should make you pause before you even think about investing in a company with no revenues or an "innovative" business model that seems way too smart for the little people.
AllAdvantage billed itself as an "infomediary"(by the way, I would also be leery of made up words like that). It's easy to dismiss the company now, but back in the day, it had really smart VCs like Softbank ponying up big money in order to fund it. The IPO was one of the last Internet highfliers of Frank Quattrone, then probably the brightest star in technology investment banking at Credit Suisse First Boston.
AllAdvantage wasn't a complete disaster though. They were an early creator of viral marketing campaigns. They were a behavioral marketing pioneer.
If you've got a lot of time on your hands and want to marvel and how naive people were at the turn of the century, then read this business description taken from it IPO filing.
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