A little over a year ago, two California startups thought they had an irresistible sales pitch: Buy stamps on the Web and you'll never have to stand in line at the post office again. Investors loved the idea. After going public in June, 1999, Stamps.com's (STMP) stock soared fourfold, to $48 a share--even before it had sold its first stamp.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Smartphones Are Killing Americans, But Nobody’s Counting
- Why a Pub in the Middle of Nowhere Was Named the World’s Best Restaurant
- Gulf Coast Oil Spill May Be Largest Since 2010 BP Disaster
- Marc Faber Asked to Leave Sprott Board After Racist Report
- Airbus Snaps Up Bombardier Jet in New Challenge to Boeing