Dot-com bubble
Tech stock speculative craze, c. 1997–2003 / From Wikipedia, the free encyclopedia
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The dot-com bubble (also known as the dot-com boom or internet boom) was a stock market bubble that ballooned between 1997 and 2000, and peaked on Friday, 10 March 2000. This period of rapid market growth coincided with the widespread adoption of the World Wide Web and the Internet, resulting in a dispensation of available venture capital and the rapid growth of valuations in new dot-com startups.
Between 1995 and its peak in March 2000, investments in the Nasdaq Composite stock market index rose by 800%, only to fall to 78% from its peak by October 2002, giving up all its gains during the bubble.
During the dot-com crash in 2000 and 2001, many online shopping companies, notably Pets.com, Webvan, and Boo.com, as well as several communication companies, such as Worldcom, NorthPoint Communications, and Global Crossing, failed and shut down.[1][2] Others, like Lastminute.com, MP3.com and PeopleSound remained through its sale and buyers acquisition. Larger companies like Amazon and Cisco Systems lost large portions of their market capitalization, with Cisco losing 80% of its stock value.[2][3]