Of course, great stories are never that simple. None of these companies became the triumphs their founders had hoped for.

Yet all six entrepreneurs -- a bit wiser, but with no less enthusiasm than the first time -- are bouncing back. They're creating new businesses, and there's hardly a regret among them. Says Varsha Rao, whose online cosmetics retailer, Eve.com, was sold and shuttered: "In hindsight, on a relative basis, I consider it a success. We generated great return and had a great experience."