8 Most Infamous Tech IPO Failures


Globe.com, a social media forerunner once had a glory similar or greater than Facebook of now. The network gave users freedom to publish their own content and interact with others having similar interests. On its IPO day in 2008, the company created history with largest first day gain- a 606 percent increase in stock rate. The trading of the $9 priced stocks started at $87 and settled to $63.50, which gave theGlobe.com a market capital of $842 million.

"The rules of the game changed as soon as we went public," co-founder Stephan Paternot wrote in his book. It was not about developing our business model, but increasing shareholder value. We were doing well if our stock went up and badly if it went down."

Nasdaq de-listed the stock in 2001. Following it, the company shifted its focus by launching a VoIP phone service in 2003. But eventually with lawsuits and violation of anti-spam laws, the company disappeared from the scene by 2008.