epoch_csmr_111300.pdfVIP

Visitourwebsiteformorein-depthresearchandmarketcommentary:www.epoch.comScottEhrensManagingDirectorSeniorResearchAnalystAdriaMarkusVicePresidentResearchAnalystCONSUMERINTERNET-NOVEMBER13,2000P2P:PlatformstoProfitabilityIndustryThesisTheconsumerInternetlandscapehasgraduatedfromits“greenfield”phase,whereentrywaseasier,customeracquisitioncostswerelower,andthecapitalmarketswereforgiving.Today’sim...