At the peak of the dotcom bubble 12 years ago, Naveen Jain, an entrepreneur from the Seattle area, rode the internet directory InfoSpace to a market value of $30bn, with a personal stake in the company worth $8bn.
But InfoSpace’s revenue fell short of projections and its advertising sales were not sustainable. Shares plummeted from more than $1,000 in 2000 to less than $4 and Mr Jain left the company. Lawsuits brought by investors over the losses were settled later.
