Worst Venture Capitalist Investments

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Floorz.com

floorz, VC, fundsFloorz.com raised over $50 million in funding over the period 1999 to 2001 from Whoopi Goldberg and J. Crew, but went into bankruptcy in 2001 after seeing a very steep decline in its revenues. Floorz tried to create digital currency, which could be spent at the participating online retailers. The site got into troubled waters, when some thieves in Russia and Philippines started charging $300,000 in Floorz to stolen credit cards. Floorz filed for Chapter 11 bankruptcy in 2001, and even the big investors couldn't come help Floorz from getting floored.
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