I think of Kozmo often.
Deliver anything, no minimum. they lost money on every transaction.
They were too slow to IPO though, and cancelled it in mid 2000.
The fun part is that the idea works now - they were basically right on the concept and others took it to completion.
The VCs lost the money, not shareholders. That's cool.
NEW YORK (CNNfn) - Kozmo.com, the online home delivery service that will bring everything from videos to snack food to your front door, withdrew its planned $150 million initial public offering Friday, citing unfavorable market conditions.
In a brief statement, the New York-based company, which has attracted several high-profile backers including Amazon.com (AMZN: Research, Estimates), asked the U.S. Securities and Exchange Commission to withdraw its application immediately.
The company originally filed to go public in March in a deal led by Credit Suisse First Boston, but had not yet indicated how many shares it expected to sell or at what price.
The withdrawal comes at a time when the IPO market has started to show significant signs of rebirth. But Internet stocks still largely remain out of favor with investors.
"At this time, we have the capital on hand, enough flexibility and confidence in our model to go public when it makes sense for the company," said Matt Higgins, a Kozmo.com spokesman. "Our focus right now is on profitability."
Higgins said the company expects to refile for an IPO "sometime early next year."