Beenz is considered one of the greatest dotcom disasters.
Beenz were a sort of online reward currency that one could collect as a reward for visiting specific web sites, shopping online, or using certain ISPs. Beenz were redeemable on certain ecommerce sites. Beenz raised $100 million from venture capitalists including Apax/Patrickof, Larry Ellison of Oracle, Francois Pinault of PPR, Vivendi Universal, Italian financier Carlo de Benedetti and Hikari Tsushin of Japan. Beenz was created long before anyone would dream-up cryptocurrencies like Bitcoin. But as a pioneer, Beenz wasted a lot of time educating regulators around the world that they were not a real currency but a virtual point system. Beenz operated around the world and had offices in United States, Sweden, France, Germany, Italy, Japan, Singapore, Australia and China. After the dot-com bubble burst, Beenz could not go public, ran out of cash. In 2001 was sold to Carlson Marketing Group to be used as a reward tool. After 9/11, Carlson faced business troubles and opted to shelve the Beez concept altogether. For more info, see the Wikipedia entry.