The explosive growth of the internet in the late 1990s gave birth to a wave of e-consultancies earlier this decade. While the country's bankruptcy archives are littered with former e-consulting firms, none burned hotter or died harder than marchFIRST. The firm's rapid escalation began in 1998 when e-consultancy roll-up USWeb merged with advertising firm CKS Group.
In December 1999, the firm then known as USWeb/CKG acquired the consulting firm Mitchell Madison Group for $300 million. In March 2000, US Web/CKG merged with Whittman-Hart (a more traditional systems integration firm) and formed marchFIRST, which employed 10,000 people and generated over $1 billion in revenue.
And then, like a supernova, it imploded. On Oct. 24, 2000, the firm's stock price fell 60 percent. By March 2001, the company's leadership resigned.
By April 2001, the company filed for bankruptcy protection. And by May 2001, the company was dissolved. Pieces were sold to a number of firms, including: Divine, Itera Consulting, a reconstituted Whittman-Hart and Avenue A/Razorfish. The soap opera goes on: Microsoft acquired Razorfish in 2007, which it then sold off to French advertising firm Publicis Groupe in October 2009.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.