In July 1999, the company announced a merger with Columbia House. However, in March 2000, the deal was called off.
On March 20, 2000, as the dot-com bubble burst, Barron's published a cover article called "Burning Up", which noted that the company was running out of cash.
In June 2000, the company closed its London office to cut costs.
In July 2000, Bertelsmann Music Group acquired the company for $117 million, a price that was down over 90% from the valuation of the company at its peak in April 1998. The 2 Olin brothers got a total of $17 million.
In April 2001, the company cut 40 employees, 10% of its staff.
In August 2001, the company shut its Japanese website and laid off 200 employees.
In November 2002, Amazon.com began operating the CDNow website. The web site was later shut down.
Led Digital Marketing Efforts of Top 500 e-Retailers.
Worked with Top Brands at Leading Agencies.
Successfully Managed Over $50 million in Digital Ad Spend.
Developed Strategies and Processes that Enabled Brands to Grow During an Economic Downturn.
Taught Advanced Internet Marketing Strategies at the graduate level.
Manage research, learning and skills at defaultlogic.com. Create an account using LinkedIn to manage and organize your omni-channel knowledge. defaultlogic.com is like a shopping cart for information -- helping you to save, discuss and share.