As Internet investment slows in Taiwan, Web-based companies should think twice about going public, according to one analyst behind the country's recent Net success story.
According to David Lu (盧大為), the chief executive officer of Kimo.com, investors are steering clear of what they perceive to be money-losing Web businesses. And as venture capitalists begin to turn away from Internet startups "like they have a contagious disease," young entrepreneurs will have to face the fact that the industry is reshaping and adjust to the changes.
"In this chilly Internet investment season, companies should think about how to create the largest Web value and how to move forward to tap the global market," Lu said yesterday at a seminar in Taipei.
"Instead of just eying initial public offerings for fresh funding, Web firms should contemplate merger [options] or streamlining their businesses," he added.
As for Kimo -- Taiwan's most recent Internet darling after its merger agreement with Yahoo Taiwan -- the company will continue to offer fast, quality-driven and user-friendly services in order to prevail in the Internet business, according to Lu. Kimo is expected to record a million page views per day by year-end, Lu said.
According to one industry watcher, the merger deal -- which for many signaled the beginning of the end of the Internet "bubble" in Taiwan -- should prompt Web companies to re-assess the way they operate.
"There are more than 100,000 Web sites on the island, but just 5 to 10 sites are taking the lion's share of the interest from Internet users," said Lu Hsi-peng (
Among the reasons individual Web sites in Taiwan are not as popular as they should be in terms of hits, Lu said is that people just don't have enough time to look at every site they want.
"If [users] go back to a site time and again, it's because they are satisfied with the service that they are getting," he explained.
"Therefore, in my opinion, it is neither content nor services that decide the overwhelming success of certain Web sites -- like Kimo -- but adjustments they have made in tune with their users' experiences," Lu said.
Liu Yi-tzu (劉一賜), executive vice president of an Internet company launched by the Chinese-language Business Weekly (
According to Liu, many Web firms are still looking for ways to embark on an IPO or enter the Greater China market in the hope that they can dramatically receive an injection of needed capital.
However, "that's not a strategy suitable for every firm," the executive said.
"Actually, knowing your target customers and developing a goal-oriented Web site are the keys to the future growth of any Web firm," Lu said.
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