Connect with us

Hi, what are you looking for?

Jewish Business News

Articles & Blogs

Worst Business Decisions of All Time

By Contributing Author

I think we can agree, we’ve all made a business decision that in hindsight we would go back on and do the polar opposite, a knee-jerk decision to hire a new recruit or perhaps declined a lucrative deal. No matter how bad a decision you made, it’s not as bad as the following 8, take a deep breath and take a look at these…

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

Google

 The company that could have bought Google for under $1m

Back in 1999, search engine Excite, one of the most well-known brands on the internet, turned down the opportunity to purchase Google for only $750k.

Google went on to dominate the world and are now valued at around $367bn, while Excite were bought out by fellow Ask Jeeves for $343m in 2004.

The Beatles

Decca turn down The Beatles

The Beatles are the biggest-selling band of all time, having sold 178m records and counting.

Yet, when offered the chance to sign them before making it big, Dick Rowe of Decca Records turned them down, insisting: “Guitar bands are on their way out.”

Motorola doesn’t do smartphones

Motorola doesn’t do smartphones

Motorola was one of the biggest mobile phone manufacturers in the world during the mid-2000s, with a market share of 22 percent thanks to their hugely popular Razr model.

However, their lack of urgency in producing a smartphone – not doing so until 2010 – meant their share value fell from $72 in February 2006 to only $12 three years later, an 83 percent drop.

Blockbuster block themselves out

Blockbuster block themselves out

Blockbuster had over 9,000 video and DVD rental stores worldwide during the 1990s, with an annual revenue of close to $6bn per year.

At the turn of the millennium, new start-up Netflix offered them $50m to help launch their new DVD-by-mail service. Blockbuster has since virtually died out, while Netflix has a market value of around $152bn.

Electronic Data Systems

Electronic Data Systems miss out on becoming a trillion-dollar company

In 1979, American IT company Electronic Data Systems was worth around $1bn and looking to invest in a small computer company to supply valuable software.

Microsoft was one of the options, but EDS refused to meet a 23-year-old Bill Gates’ asking price of $40-60m. Microsoft is now worth more than $1tn.

Digg

Digg dig themselves into a hole

News aggregator Digg rejected an offer from Google in 2010 that was reportedly worth around $200m.

Two years later, they were forced to accept a bid from Betaworks for only $500k.

Advertisement. Scroll to continue reading.

Yahoo

Yahoo turns down megabucks from Microsoft

With a peak of around $125bn in 2000, internet pioneers Yahoo were already on the downturn when co-founder Jerry Yang turned down an offer of $44.6bn from Microsoft in 2008 to the annoyance of investors.

The value of Yahoo continued to steadily decline, to the point that they are now worth just $32bn.

Mars miss a movie opportunity 

Steven Spielberg offered Mars the opportunity to feature in E.T., one of the most iconic films of all time, back in 1982, but they declined.

Hershey’s, however, jumped at the opportunity and agreed a $1m deal to push their Reese’s Pieces product, with the subsequent exposure worth an estimated $20m.

 

Mars miss a movie opportunity 

Steven Spielberg offered Mars the opportunity to feature in E.T., one of the most iconic films of all time, back in 1982, but they declined.

Hershey’s, however, jumped at the opportunity and agreed a $1m deal to push their Reese’s Pieces product, with the subsequent exposure worth an estimated $20m.

 

 

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.