Much of Europe's business internet access once came from small local providers, each with a few thousand customers. VIA NET.WORKS set out to buy many of them and join them under one name. When it filed to go public in early 2000, the plan sounded simple. Buy cheaply. Share costs. Sell more services to small and mid-sized firms across many countries.

Many Shops, One Back Office

The bet was a roll-up. Local providers had loyal customers and local knowledge, but little scale. By buying them and combining their back offices, VIA hoped to sell hosting, connectivity and other services more cheaply than any single provider could. It bought firms in several European countries and in Latin America. The goal was to become the default internet partner for small businesses.

Sold Off in Pieces

VIA priced at $21 a share in February 2000. Joining so many small companies together proved hard, and the market for internet stocks collapsed soon after the offering. The company spent the next years selling units, cutting costs and looking for a buyer. In 2005 it sold most of its operations. Claranet took one part, and Interoute took the rest.

Cover: On the Road, Jules Dupré. Art Institute of Chicago, public domain. Chosen for travelers on the road (all roads lead online).