Money: No stopping dot com
Sunday 26 December 1999
Dot com fever has gripped the City, forcing frantic in-vestors to buy shares in the companies that they hope will gain from the internet revolution. The biggest event of the dot com year was the flotation of Freeserve. This offers free internet access and makes its money partly through a cut of the telecommunications in-come and partly from a payment by any net retailer or information company that gets a click through Freeserve. When it floated the market was cynical: the share price was cut back to 150p amid predictions of a slump. It is now trading at nearly four times that level.
Hot on Freeserve's heels have been QXL.com, which carries out internet auctions, eXchange Holdings, which runs financial services websites, and 365 Corporation, which runs net communities of football supporters or music fanatics. Only 18 months ago these companies were valued at little more than pounds 10m each. Now QXL is worth over pounds 1.7bn, eXchange nearly pounds 750m and 365 more than pounds 400m.
But none of this has anything on the US, where the storming performance of internet leaders such as Yahoo! and Amazon has underwritten the boom on Wall Street.
However, US investors have already found a new "gold rush" - Linux, the operating system that threatens the dominance of Microsoft. Two weeks ago VA Linux Systems floated in New York and registered the biggest-ever rise in first-day trading - 698 per cent.
- 1 Why I'm on the brink of burning my Israeli passport
- 2 Israel-Gaza conflict: ‘Sderot cinema’ image shows Israelis with popcorn and chairs 'cheering as missiles strike Palestinian targets'
- 3 Blackest is the new black: Scientists have developed a material so dark that you can't see it...
- 4 Iraq crisis: How Saudi Arabia helped Isis take over the north of the country
- 5 Barack Obama fist bumps Texas restaurant employee in support of gay rights
Scottish independence: Scots of Corby take matters into their own hands in mock referendum - and deliver overwhelming verdict
Protesters fight to save Arturo, the polar bear sweltering in baking hot zoo
Fry ‘criticises Operation Yewtree in dinner party rant’ calling for tougher laws to deter false sex abuse allegations
Supermoon 2014 in pictures: Moon appeared bigger and brighter at the weekend
Saharan remains may be evidence of first race war, 13,000 years ago
Sustained immigration has not harmed Britons' employment, say government advisers
War is war: Why I stand with Israel
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
Emergency data law: David Cameron plots to bring back snoopers’ charter
NUT strike: David Cameron announces crackdown on strike action ahead of mass industrial action
- < Previous
- Next >
iJobs Money & Business
£30000 - £45000 Per Annum: Clearwater People Solutions Ltd: Our client based i...
£650 - £750 per day: Orgtel: Senior Analyst Developer (KDB/QKx plus Java and F...
£55000 - £60000 per annum + bonus + bens: Deerfoot IT Resources Limited: Our c...
£40000 - £45000 per annum + bonus + bens: Deerfoot IT Resources Limited: Messa...