New Delhi, May 24: The melting technology stock has left its toll on the initial public offerings market in Asia where close to 200 IPOs are being pulled back.``A lot of scepticism has come among investors over the revenue models of the dotcom companies especially those promising B2C businesses'', managing director, Asia Pacific Penton Media Inc, Michael Westcott said here.
Westcott is based in Hong Kong and has over 10 years of experience in the Asian media and publishing industry. He said many dotcoms sprung up without any definite idea of revenue model. "They all wanted to get high valuations and IPOs". Technology stocks all round the world have been falling heavily and it is not clear whether they had bottomed out.
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