About Us
SyncPac is a survivor of the dotCOM bust. We got hammered. We very nearly didn't survive as a company.
Is that bad? How does collaspe reflect on us? Could it have been avoided?
If you are one of the 160 people who invested in the company (One WebPlace, Inc.) you might even think that it did fail. In the sense of the dotCOM hype it did fail. Nothing that we set out to do in those days ten years ago exist now. The fact is it could not exist today no matter what management might have attempted. The market simply did not develop. The management tried for several years to salvage the business plan and to make something happen. Thousands more were invested by the founder and countless hours trying to force the market to be there for our products. It simply was not to be. Our flagship product eCommXpress (an ecommerce suite of tools for small merchants) had no takers, we could not give it away free.
The product was not bad but after the bust there were simply no takers. Our target clients seemed reasonable and even engaged during the run-up of the dotCOMs. They were the small, under-served "mom and pop" merchants. The very same ones that were and still are being systematically reduced to poverty by the big box stores. We had noble intentions with eCommXpress, we would create a product with every feature the big boxes had and make it affordable to the masses. Our market research all pointed to solid GOLD.
What went wrong? Where did management fail?
A critical assumption was made that led to a business model that could only work as long as the dotCOM continued to expand. That assumption is this: Small merchants would be forced to move their business online to survive in the big box world.
The same thing is happening in banking today with billions if not trillions of dollars having evaporated because the market did not continue to expand.
It has been eight years since the dotCOM bust. That model is dead and gone. SyncPac has sharpened its focus and returned to the tried and true method of business, cash-flow.
So how does a company with no product create cash-flow? With its holdings. On these pages we will tell you about them and why you should be interested.