It seems that the blogosphere, the press and the Internet cognescenti can’t seem to agree whether an Internet “boom” is underway. Some days the pack sways in favor of a boom and other days opinion shifts against a boom.
USA Today’s Matt Krantz has this article today suggesting that investors are far more sober than they were during the craziness of 1999 and that no real boom is taking place.
Outside of Google and a few other choice names, it’s hard to find an Internet company that gets investors’ juices flowing — let alone gets them to pull out their wallets. From a technological standpoint, the Internet has lived up to and even surpassed its wildest expectations. But investment-wise, the recent results have been a disappointment at best.
The focus now is on building solid businesses that actually make profits, although Internet titans are buying out the successful newbies as the industry consolidates, according to the article. But, because more stable Internet businesses are evolving, look for a boom-let of IPOs in late 2007, Mitch Rubin, portfolio manager of the Baron iOpportunity fund says in the piece.
Cynthia Brumfield at 8:20 AM|Comments(0)
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