Drkoop.com, which once had a market capitalization exceeding $1 billion, has been acquired by a health products company for $186,000. The Internet firm named after former U.S. Surgeon General C. Everett Koop declared Chapter 7 bankruptcy last December after losing a total of $194 million on revenue of $41 million from January 1999 through September 2001. Formed at the beginning of an Internet boom in 1997, drkoop.com raised $84.4 million in its June 1999 initial public offering and attracted more than $200 million in total financing. At its height, the company's shares sold for as much as $45.75 each. One penny bought 143 shares over the counter this week. New owner Vitacost.com, Boynton Beach, Fla., bought the company's brand name, trademarks, domain names, the drkoop.com Web site and the e-mail addresses of more than 2 million registered users. No other personal information was transferred. A qualifier now on the Web states it is not associated with the former surgeon general. -- by John Morrissey
Drkoop.com sells for tiny fraction of former value
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