Launching an e-comm, dot-com, or Internet-based venture carries significant risk, and unfortunately failure is often the result. Yet, given the possibilities of large profits, entrepreneurial teams continue to come forward with new venture proposals, and venture capitalists continue to fund them. This case example illustrates the challenge and risk of developing a new product for a potentially emerging market. In this instance, the market did not evolve as expected and there were no profitable customers. An attempt to redefine the product/market focus was also unsuccessful. In the period of some two years, the company went from concept to start-up to closure. This article starts with a brief review of venture creation and business model literature, considers an unsuccessful start-up, and concludes with lessons learned. References and a glossary follow.