Venture Money Flowing Towards Web2.0 Startups
In the first three quarters of 2006, $455 million was raised for Web 2.0 companies—more than twice the amount that had been raised in the first three quarters of 2005, according to Dow Jones VentureOne and Ernst & Young, which released the figures Tuesday.
Some of the hottest consumer internet sectors are, not surprisingly, video sharing and social networking. Internet gaming and entertainment are also on the rise, according to notes for a Dow Jones Consumer Technology Ventures conference held this week at the Fairmont Hotel in San Jose.
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