May 18, 2000

9:33 AM

First Boo.com goes down, now DEN. The Digital Entertainment Network is closing it's doors after running out of cash. After raising over 33 million dollars, they burned it at rate of up to $3 million per month, pulled their $75 million stock offering, and with no revenue model in place, they had to close up shop, with 150 people suddenly out of work.
posted by mathowie (4 comments total)

wow.
posted by sikk at 10:05 AM on May 18, 2000

Cool. Serves them right.
posted by Calebos at 10:43 AM on May 18, 2000

"What? The bank account is empty? But we still have checks!"
posted by dhartung at 2:56 PM on May 18, 2000

Serves who right Calebos?
posted by alan at 3:11 PM on May 18, 2000