It’s official! TIME Magazine tells us After Googl’es deal, dotcoms are bubbling hot.
According to the article, there are more than 1,000 Web 2.0 startups swimming around out there. This is good news for VCs, who have warmed up to the Internet again, according to ITworld.
ITworld has some great quotes on what’s hot and how VCs are approaching choosing their investments:
“I am looking for entrepreneurs with the drive and vision to take on the enormous challenge of competing with companies many times their size with far more resources. I want business models with clever plans to win over the long haul, and I want markets big enough to justify a DFJ investment,” says Tim Draper, founder and managing director of venture capital firm Draper Fisher Jurvetson.
“There’s an enormous opportunity,” Matt McCall of Portage Venture Partners says. “But it’s critical for startups to have a legitimate business model, understand the domain they’re playing in and understand why your customer needs to buy, and buy often and a lot.”
The Time article can be summed up through its headings – they point to how to make a success in the space, namely:
- Do Something Unique
- Amass An Audience
- Community = Cash
- Take On The Titans