dot-com period

The dot-com years refers to the period from approximately late 1998 to early 2000 when there was an explosion of web start-ups and venture funding for commercial hi-tech activity. It was fuelled by the increasing web user base, but for a period hype overtook the human and technical foundations (the dot-com bubble) leading, perhaps inevitably, to a major crash. The latter was triggered by the flotation of lastminute.com – which paradoxically is still a major internet travel company. The share price of lastminute rose sharply after listing, but this was soon followed by an even sharper drop. Confidence in hi-tech companies was hit leading to a near shotdown of funding for hi-tech investments that lasted for several years.