livedoor - report

Japanese Internet company

livedoor Co., Ltd. was a Japanese company that functioned as an Internet service provider and operator of a web portal and blog platform before being brought down by a scandal in 2006. The company was founded and led in its first 10 years by Takafumi Horie, known as "Horiemon" in Japan. Livedoor grew into one of Japan's premier Internet businesses, putting over 1,000 employees on its payroll at its peak. Its reliance on acquisitions and stock swap mergers to achieve growth also made it one of the country's most controversial enterprises. Its growth came to a resounding halt when scandal erupted in early 2006. An investigation of securities law violations led to a nosedive in the company's stock price. The Tokyo Stock Exchange delisted Livedoor on April 14, 2006. The floundering company's properties were purchased by South Korea–based NHN Corporation in 2010.