The information technology (IT) industry has reached a new stage of maturity and possibility. Applications and databases that fueled the dramatic growth of Silicon Valley are in a head-long race with commoditization. Networks are being consolidated under the control of a few large players. The exuberance that once greeted each successive new technology is now tempered by the need for practical, profitable business applications.
The Internet shows signs of being able to answer this call for results.
In 2002, business-to-business commerce generated more than $6 billion
in revenues, business-to-consumer commerce yielded almost $2 billion,
and the online advertising industry produced almost $1 billion. The Gross
Web Product is likely to reach $320 billion by 2005.
NewGothamVC was founded to capitalize on the new realities of the IT industry. It provides financial support and guidance to Internet-enabled businesses and the technology firms that make them work.