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Cash and cards still seem to be pretty much common place - but where is Beenz these days?
By silicon.com
Published: 16 March 2004 17:40 GMT
16.03.99: An Anglo-American start-up today launches what it claims will become the de facto currency of the web.
Beenz is both the name of the company and the e-currency - surfers can earn them by using certain websites, banner ads or online questionnaires.
The company, which launches with offices in London, New York and San Francisco, predicts 10 million people will have active accounts by the end of the year. Chairman and CEO Philip Letts told silicon.com: "This is going to be the web's currency. It has been designed to be universal and tests we've done make us confident it will work."
16.03.04: Oh dear. The problem with bold assertions is that they go one of two ways.
Five years down the line you could either be saying "we told you so" - or more commonly for online businesses you're left with egg (or should that be Beenz) on your face.
Letts' claim that a year from its launch Beenz would be thriving with 10 million users might more accurately have stated that a year from launch Beenz would be going downhill faster than a Swiss bobsleigh team.
By mid-2001 the company was filing for bankruptcy and unlike Jack, of Beanstalk fame, it's very unlikely the creditors would ever settle for being paid in Beenz.
Still, greatness never came from playing it safe, so you have to admire the gamble - one of just many outlandish ventures during the insanity of the dot-com boom. But armed with hindsight and accepting that it is a wonderful thing, you do find yourself asking 'what were they thinking?'.
Other activities would include booking and scheduling rig usage, ensuring all Government Furnished Equipment remains traceable and ensuring currency ...
Organisations in more than 60 countries use their software solutions and the company has offices in San Francisco, New York, Paris, Hong Kong and ...
We believe that our people and our services are unbeatable within the industry, offering promotion from within, award wining training and a team ...
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