Few sites symbolise the best and the worst aspects of the new economy in 2000 as well as Boo.com. When the site went under in May, the shock waves were felt in every European Business to Consumer (B to C) start-up. If the much admired, high profile, high tech, high class, brand name seller Boo.com couldn't attract more funds, what chance did anyone else have?

Founded by two Swedish entrepreneurs Ernst Malmsten and Kasja Leander Boo.com was designed to be the first, groovy, global, e-commerce fashion site. State of the art software, characterised by the online animated guide, Miss Boo, would push sportswear and streetwear from the hottest brands to connected, fashion conscious, consumers.

Unfortunately for Boo.com and for many of its confreres in the pure play, internet commerce world, the gravity defying acts of 1999 fell to earth dramatically during the course of 2000. A study from Webmergers revealed that 210 dot-coms shut down in 2000; more than half representing electronic commerce companies. With hindsight it became clear that the lack of entry barriers to web commerce has meant that supply significantly exceeds demand and only sites with an effective business plan will survive. Boo invested heavily in design and in technology, but at the expense of navigability and, some would say, good business sense.

The consequences of the bubble bursting, have been multiple. Vulnerable dot-coms have gone scurrying for cover or gone out of business. While portals like Yahoo and Wanadoo have consolidated, Business to Consumer success stories have come from established, old-economy retailers, flexing their commercial muscles. The heady days of cash rich investors, clambering to get into web commerce are over.

Perhaps Boo.com was ahead of its time in its insistence on embracing technology and selling. A new, much streamlined, more low tech, Boo.com has been re-launched but the excitement is no longer there and a harsh virtual reality has settled over e-business.

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