Drkoop.com

Drkoop was a health care Web site founded by former U.S. Surgeon General C. Everett Koop. The website was a big hit and it had 1.4 million unique visitors in May1999. The company went public on June 2009 and raised $88.5 million. The company made strategic partnership with AOL in the next month as its shares touched $45.75.

But the cash that company spent on efforts to acquire readers resulted in loss of millions of dollars per quarter. Even though it got an investment of $20 million, the company was forced to liquidate its assets in December 2001.