c. 2002
“Seven days from bankruptcy”: the crisis autumn of 2002
August is one of the worst results ever. On 13 September the CEO asks management to prepare a worst case, and the hosting provider Genuity goes bankrupt.
It was only a matter of a week before the company would go bankrupt.
- The Swedish Internet Foundation (Internetstiftelsen), 2014: “Now we have to launch the things we want to make money from.”
- The prologue: “seven days from bankruptcy”.
- The worst case options: a share issue, a merger or letting the members sponsor the site. Each business area had to draw up a plan.
- September 2002: turnover SEK 1,877,000 and operating profit SEK −264,000. From October the company was in the black.
- Genuity filed for bankruptcy on 1 October; the business was taken over by Internet5 and LunarStorm didn’t have to move the servers.
With: Vilhelm Schottenius, Hans Eriksson
Sources: HN: När Lunarstorm var internet · Internetworld 23 February 2007