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Digital Entertainment Network
From Wikipedia, the free encyclopedia
Digital Entertainment Network (DEN.com) was a multimedia dot-com company that attempted to use new platforms (mostly small screens like portable devices or the web) to delivering short productions combining content and advertising. Launched in 1998, it raised 60 million dollars from big-name sponsors like Microsoft, Dell, Ford and Pepsi and eargerly spent the money on facilities and huge salaries to star management employees, long before bringing in any revenues. Many industry observers say that DEN was an example of the excesses and lack of control [1] of the dot-com craze. The company's troubles mounted after its three founders, including its chairman Marc Collins-Rector (who settled a lawsuit alleging a sexual relationship with a child) resigned, leaving doubts about the company's management. A 75 million dollar IPO was cancelled in February 2000; in May the company told its remaining staff (it had laid off over 100 people earlier) that it no longer had any money with which to pay them [2]; later it filed for bankruptcy.