Wonsuk Chin

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E-Dreams Review


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All great things come to an end, and the dot-com era embodies that perfectly. Beneath a mound of bankruptcy paperwork lies the remains of a former dot-com darling, the company Kozmo.com, an online convenience store stocked with ice cream, porn videos, and other basic necessities of a urban dweller, all hand-delivered by couriers within an hour.

Designed in 1997 by two college roommates -- Joseph Park, a 27 year old Goldman Sachs banker, and Yong Kang - Kozmo flamed out in three short years, raising more than $280 million in venture capital funding and from partnerships with such bigwigs as Starbucks and Amazon.com. By December 1999, the company boasted 4,000 employees in 11 cities, its barking CEO Park attracting all kinds of media attention. The company was set for an IPO in May 2000... until April 14, 2000, the day the stock market took its first big dive, ending the Internet era. By April 13, 2001, Kozmo was out of money and ceased operations.

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