The second internet boom is on us

Like most of us, I remember the Internet gold rush of the late 90’s. I was working at Nokia during those years, and I saw quite a few colleagues from the marketing and tech world join a dot-com – in sales, marketing, strategic initiatives. It really did not matter – the euphoria was so strong that joining a dot-com was the “in” thing to do.

Astronomical salaries, glitzy job roles, an over-heated market, large advertising budgets – we saw it all.

Then came the bust. Almost overnight. It was curtains for quite a few fledgling dreams, and the return of the prodigal children back to the safer ( and perhaps less glamorous) brick and mortar business world.

But today, look around you and you see a silent re-emergence of the dotcom business, albeit in a different avtaar. More confident, quieter, yet as ambitious as before. The world may still be their oyster, but this time it is being managed by hard-nosed businessmen and venture capitalist who want to see clear business plans, and a thought through ROI model before putting in their money. Three cheers to that.

The latest data from the Internet and Mobile Association of India (IAMAI), reveals some startling information that seems to suggest that the party may have just begun. India is approaching a period of rapid internet penetration and adoption by the masses that spells promising business opportunities for those who are willing to learn from the new trends and build business models around it.

In my next few posts, we take a look at the key findings from the latest survey sponsored by the IAMAI and its business consequences.

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