The era of dotcom demise is being followed by a slow rebirth. Writing about the various sources of revenue for Web portals, Author explains why he continues to be surprised by the strength and resilience of businesses on the Web The dotcom revolution of the yore has all but vanished from our collective memories, replaced by the reality of the protracted tech slump and the ongoing slow revival. Though the e-commerce hype that was predicted is not likely to materialise, business magazines have been extremely gung-ho about the turning tide. Google's much awaited IPO is expected to be a turning point though other Internet businesses, including Amazon.com and eBay, have been posting steady profits. As an armchair observer of the trends during the nineties, I continue to be surprised by the strength and resilience of businesses on the Web. An aspect of the heady days of the Internet that is yet to really come to the fore is the atrocious valuation of online businesses, though many listed companies continue to be traded for P/E (Price/Earnings ratio) multiples of over twenty or thirty. Is this a realistic valuation, if not how else can one go about valuing online ventures is a question I have been deliberating. To set the stage for the debate, I will not take examples of any of the ‘biggies' like Yahoo or Google but a ‘small' portal I have been associated with. I wish to mention at the outset my affiliation with Garam-Chai.com, the portal we will use Check out the two part feature on online portals and valuations: Revival of interest in Web portals [URL]http://www.garamchai.com/mohan/ITP19Jul04.htm[/URL] Web commerce ventures [URL]http://www.garamchai.com/mohan/ITP12Jul04.htm[/URL] webmaster _at_ GaramChai.com