Internet shutdowns and bankruptcies declined dramatically in the third quarter of this year, according to Webmergers.
A total of 29 Internet companies folded in Q3, compared to 119 shutdowns in the third quarter of 2001.
This marks a 76 percent decline in the number of dotcom closures since Q3 2001.
According to Webmergers, companies that served a business or general audience accounted for 80 percent of shutdowns and bankruptcies during the third quarter.
Internet shutdowns also declined 30 percent on the second quarter of 2002 when 42 closures were announced.
The report indicates that a total of 126 Internet companies have folded during 2002, 73 percent less than in 2001, when 464 shutdowns were recorded.
According to Webmergers, a total of 895 Internet companies have shutdown or declared bankruptcy since January 2000.