Ernst Malmsten

Ernst Malmsten and Kajsa Leander, both 30 years old, first met in kindergarten. They were reunited by chance in 1992 when they bumped into each other outside a chic Parisian night club. Since then they have been business partners. Their entrepreneurial ventures have resulted in poetry festivals, a literature publishing house called LeanderMalmsten and one of the first e-commerce companies of Europe selling books - the now Bertelsmann-owned bol.com. Prior to teaming up, Ernst wrote for the literary review section of one of Sweden's largest morning papers while Kajsa was engaged on an international modelling career.

In the spring of 1998 - Ernst Malmsten and Kajsa Leander - came up with a revolutionary internet business idea. boo.com would be the first global online retailer of sports and designer clothes, using only the most cutting edge technology. It would be tailor-made for 18 countries, boasting a virtual changing room and 3D images. Their timing was perfect.

In Europe, where investors were just waking up to the potential of the internet, boo.com was a sensation. It was glamorous, ambitious and the first original internet idea to come out of the region. Best of all, its founders had a track record - their first internet venture, a Swedish online bookseller, (the now Bertelsmann-owned bol.com) had just sold for millions.

Against this backdrop, boo.com had little difficulty attracting money from some of the world's biggest fashion houses and most respected financiers. Then the hype really kicked in. By the time Ernst and Kajsa made the cover of Fortune magazine, boo.com's valuation had soared an incredible $390 million - even before its website was launched.

But behind the scenes it became a different story. With 400 staff, five overseas offices and endless technology problems, boo.com quickly became a management nightmare. There were attempted coups, legal threats and constant battles between key staff, bankers and investors. When the market for internet stocks took a dive in April 2000, the writing was on the wall for boo.com and dozens of other internet companies. As investors ran for the hills, the company was forced to delay plans for an initial public offering of its shares. Less than a month later, it collapsed, sending shivers through the markets and signalling the start of a new era - known as post-boo in the internet world - where profit ruled over idealism and hype. Dozens of other internet companies have since followed boo into bankruptcy and the fallout seems likely to continue.

Their book, boo hoo, (being published this September) is the inside story of the rise and fall of boo.com. It draws extensively on interviews with hundreds of people who were involved with the company, as well as some 10,000 emails, board minutes, financial accounts and video footage taken at different stages of boo's life. Following the founders in their early meetings with bankers, investors, fashion suppliers and other parties, boo hoo offers a compelling story about the Internet hype of the late 1990s and all the excitement, drama and conflict involved in building and running a major internet business