Report: Dot com failures decline

US-based IT property research group has reported that dot com failures declined to a five-month low, with 66 Internet companies shutting down since the beginning of the year, compared with 220 in the first four months of 2001.

Internet shutdowns and bankruptcies reached 12 in April, about a fifth of what they were for the same month last year. Casualties included infrastructure company Jetstream Communications and New Zealand's last remaining free ISP, Zfree. said the results reflect the market's growing optimism about the Internet.

"We are beginning to see signs that the market's irrational fear of the Internet [or what we would call cyberphobia] is beginning to subside as successful business models emerge," the report said.

The complete findings are detailed in the firm's half-yearly report titled Internet Mergers and Acquisitions.

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