

Flooz CEO's post-mortem: "Market timing matters" - ilamont
http://www.thestandard.com/news/2008/07/21/where-are-they-now-flooz

======
aditya
Looks like they were a typical first bubble startup, spending more cash than
they really needed to, as opposed to organically building product and
acquiring customers, which is what Paypal did and got right (having had to
face similar fraud issues)

~~~
ilamont
The fraud was significant (19% of USD credit card transactions, at one
point!), and ironically, at least one other Web-currency service (e-gold) is
still having trouble with this issue today:

[http://www.thestandard.com/news/2008/07/22/internet-
currency...](http://www.thestandard.com/news/2008/07/22/internet-currency-
firm-pleads-guilty-money-laundering)

