In Asia, The Dot Coms Are Clicking On "Exit"

In Asia, there isn't enough capital to keep startups going, and a brutal shakeout looms

In the 17 months since he founded his Chinese-language Internet sports portal, entrepreneur Fritz Demopoulos has come full circle. The Californian's first plan for his Beijing startup outfit, Sharkwave Information Technologies Co., was to build it up, then sell it to a big media company interested in the Chinese Net market. But by early this year, Demopoulos had won investments from such high-prestige outfits as Softbank Corp. and International Data Group. So he set his sights on an initial public offering that would value Sharkwave at as much as $50 million.

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