graphic
News > Technology
Pets.com remains optimistic
February 14, 2000: 6:21 p.m. ET

Popularity of sock puppet tempers contrary unpopularity of stock IPO
graphic
graphic graphic
graphic
NEW YORK (CNNfn) - A vaccine may have been discovered for dot.com IPO fever, as investors continued to shy away from Pets.com after its much-anticipated debut.
    Pets.com (IPET: Research, Estimates), which started trading on Friday after spending millions of dollars on Super Bowl advertisements, fell a further 2-1/32 to close 8-31/32, below its offering price of 11.
    graphicBut despite the indifferent reception to the stock, Pets.com CEO Julie Wainwright told CNNfn that things are looking good for the online retailer.
    "We have a great brand; we're executing well," Wainwright said. "I would say the wind's at our backs now."
    graphic
    Wainwright stressed that the Pets.com sock puppet, its marketing icon, is one of the company's main strengths, creating a recognizable brand in under three months of national advertising.
    She also noted that a development deal with Amazon.com would also strengthen Pets.com's position in the face of upcoming competition from other pet supply retailers, and is perfect for the company's philosophy of capturing those already online. (268K WAV or 268K AIFF)
    Wainwright told CNNfn that what sets Pets.com apart is the availability of pet-related information which can't be easily found offline.
    New plans for Pets.com include the shipping of live fish, more "human wear" featuring the ubiquitous sock puppet and expansion into the United Kingdom. Back to top

  RELATED STORIES

Pets.com flops on Wall Street - Feb. 11, 2000

  RELATED SITES

Pets.com


Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney




graphic

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.