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INDUSTRY OVERVIEW
BUSINESS
The information provided in this section is derived from various private publications and/or public
documents. This information has not been prepared or independently verified by us, the Manager or
its affiliates, or our advisers.
Growth in the Internet Market
The Internet is a significant global communications medium, enabling millions of people to share
information and conduct business electronically, and providing advertisers and merchants with an
attractive means of marketing and selling their products and services. The use of the Internet as a
global medium for communications and commerce has grown rapidly since the start of its
commercialisation in the early 1990s.
Major catalysts behind this rapid growth in the popularity of the Internet include the increase in
personal computers and modem penetration, the introduction of easy-to-use navigational tools and
utilities and the growth in the number of information, entertainment and commercial applications
available on the Internet. Technological advances have led to more robust and lower cost and higher
capacity infrastructures, improved security and increased value-added services and content.
Another important factor in the widespread adoption of the Internet has been the emergence of a
network of servers and information available. The web is a network medium, which offers content,
activities and services. The rapid deployment of the web has introduced fundamental changes in the
way information can be produced, distributed and consumed, lowering the cost of publishing information
and extending its potential reach. The structure of web documents allows an organisation to publish
significant quantities of information while simultaneously allowing each user to view selected information
that is of particular interest in a cost effective and timely fashion.
These trends have led businesses increasingly to explore opportunities of providing Internet-based
applications and services within their organisations and externally to customers and business partners.
The Internet as a Medium for Content Delivery
More people are increasingly relying on the Internet for news and information. The Internet provides
an efficient medium for the delivery of continuously updated original content. It is also becoming an
important channel through which parties share information, opinions and ideas around the world.
Although content providers can reach large audiences through traditional media, their distribution is
often constrained by geography and they do not provide for interaction among the information providers
and members of the audience. The Internet, on the other hand, permits users to rapidly access,
search and interact with a wealth of content, regardless of where the users are geographically.
Additionally, the Internet allows interactivity amongst users and content providers.
However, as the Internet grows, people using conventional search and directory products are finding
it increasingly difficult to locate a useful and authoritative source of information. While better and
faster search engines begin to address this difficulty, we believe the promise of the Internet will only
be fulfilled through the emergence of branded destinations that are authoritative and trusted sources
of relevant information, products and services.
The Internet as a New Business Medium
The Internet provides an efficient means for advertisers to build valuable customer relationships
through targeted advertising and promotion campaigns as well as for merchants to sell their products
and services directly to customers.
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