The Marc of Misery :: Andreessen loses his golden touch

By Om Malik March 6, 2002 No Comments

Red Herring :: Marc Andreessen, the chubby-cheeked cofounder of Netscape Communications, was once the epitome of Internet success. His recent track record, however, reminds us of a 1997 GQ article that called him “imposter boy.”

America Online bought Netscape, but only after it was thoroughly thrashed by Microsoft in the browser wars. His next venture, managed services provider Loudcloud, trades for $3.21 a share, less than half its all-time high.

Even companies of which he’s merely a board member are seeing hard times. CacheFlow, which once hit $183 a share, now trades for $1.79. MobShop, a group-shopping site, closed its shutters; Octopus.com went bankrupt. That leaves CollabNet, an open-source company, which is doing okay. Let’s hope it can break his recent slump.