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...about venture capital," Cheah says. There is a shortage of good prospects, however. Cheah and his backers reckon that they discard about 95% of the 300 or so business plans they see in a year. Nonetheless, Cheah predicts, "The number of Asian Internet IPOs in the region and on NASDAQ will at least quadruple over the next year...
...firm that started out curing software and Internet-related headaches for the local government and utility companies, Cheng is well past that. Established in 1996, Timeless went public last November as one of two initial listings on Hong Kong's Growth Enterprise Market, the territory's wannabe answer to NASDAQ...
...took 2 1/2 months to prepare the financial and legal requirements for the Growth Enterprise Market listing. Cheng and his team had envisioned a grander debut. They wanted to be on NASDAQ from the outset. But a plea from GEM's chairman, they say, persuaded them to list locally. Timeless had secured $13 million in capital from Taipei-based angel/investor Crimson Asia Capita; the GEM listing raised an additional $58 million...
Cheng is projecting a $2.6 million profit for the fiscal year ending March 31, after cumulative losses of $7.7 million racked up during Timeless' first three years. Listing on NASDAQ has not been ruled out. To do that, however, Cheng will have to turn the heads of U.S. investors with flashier results--not just a prestigious office address...
...primarily for Indians living overseas. His 20 staff members were squeezed into a 970-sq-ft. warren in downtown Bombay. Profits were minimal. But last fall Jain hit a cosmic payday when he sold his portal company, IndiaWorld Communications, to Satyam Infoway, an Indian Internet service provider listed on NASDAQ. The $115 million deal--one of the biggest Internet transactions involving two Asian companies--gave Jain instant celebrity, a whopping bank account and a desire to leave the Internet rat race, at least for a while, to enjoy his winnings...