1999: A press release issued over Business Wire announced the creation of a new company called Webnode. This company, according to the release, had been granted a government contract to regulate ownership of 'nodes' on the 'Next Generation Internet.' Each of these nodes (there were said to be over 50 million of them) represented a route that data could travel. The company was licensed to sell each node for $100. Nodes would increase in value depending on how much traffic they routed, and owners would also receive usage fees based on the amount of data that flowed across their section of the internet. Therefore, bidding for the nodes was expected to become quite intense. Offers to buy shares in Webnode soon began pouring in, but they all had to be turned down since the company was just a prank. There really was a Next Generation Internet, but there were no nodes on it. Business Wire didn't find the prank amusing and filed suit against its perpetrators for fraud, breach of contract, defamation, and conspiracy.
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