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“SciQuest, originally an e-market exchange, went public in 1999 with a $2 billion market cap. Two years later, SciQuest was on the verge of shutting its doors: the gross profit margin was running at 2% and the company was burning $25 million a quarter. With only $50 million in its coffers, this prototype for the dot.com era was on track to run out of cash by year’s end.”
The above excerpt from The American Business Awards 2008 Winners website made considerable references to the areas upon which I touched in my 2005 white paper on SciQuest. Specifically, was the SciQuest value proposition scalable beyond the cottage industry success that enabled it to grow to the point of going public with a $2 billion market cap in the first place?