How It All Unraveled
MARCH: Manzi establishes offices in Cambridge, Mass., hiring several ex-Lotus execs and dozens of new technical workers. Days later, Industry.Net founder Donald Jones suffers a serious heart attack.
JULY: Industry.Net merges with AT&T New Media Services; AT&T gets about 18% of the newly renamed Nets Inc. Payroll soars to 300.
FEBRUARY: Manzi shuts down the Business Network, the core product acquired with AT&T New Media, and hires former U S West marketing exec Catherine Hapka as president.
APRIL: Manzi begins paying $500,000 a week of Nets' expenses from his own pocket, but his lieutenants assure employees the company will survive.
MAY: Nets announces it will seek bankruptcy protection.
Updated June 15, 1997 by bwwebmaster
Copyright 1997, Bloomberg L.P.