Chemdex Corporation, later known as Ventro Corporation and then NexPrise, Inc., was a B2B e-commerce company that first operated an online marketplace for products related to the life sciences industry such as laboratory chemicals, enzymes, and equipment, but later expanded into a few other industries. It was notable for its $7 billion market capitalization during the dot-com bubble despite minimal revenues.
History
The company was founded in September 1997 by David Perry, a mid-level oil refinery manager at Exxon whose business plan won 2nd place in a Harvard University competition.
In October 1998, the company launched its service.
In September 1999, the company acquired Promedix.com for $340 million in stock. In December 1999, the company acquired SpecialityMD.com for $115 million in stock and formed a joint venture with Tenet Healthcare. The stock price surged to over $100.
In February 2000, the company changed its name to Ventro Corporation.
On February 25, 2000, the stock price peaked at $243 per share.
In December 2000, the company shut its Chemdex and Promedix marketplaces and laid off 235 employees.
By June 2001, shares in the company traded for 39 cents each.