Abstract
Information technology has changed many venture creation models. Cyberentrepreneurs create new venture based on internet platform and exploit internet technology to conduct main activities. Internet provided various promotion channels and added value. Recently, New Internet ventures grow rapidly due to higher flexibility, lower entry barrier, and more effective promotion platform. As a result, research of internet startups is in the emerging phase. This paper conducts multiple-case study by interviewing 33 internet startups. The purpose of this paper is to explore history of internet venture creation, the bottlenecks of developing website service and the key success factors of starting an internet company. In this paper, I interview 33 Cyberentrepreneurs and focus on the content of website services, backgrounds of internet teams, development of website services and the key success factors, this paper transforms all materials into useful information and construct model of new venture creation on the internet. This paper categorizes interviewed website service into 3 stages and explores website service from 4 aspects. 3 stages of new venture creation on the internet: Dream Driven Stage, Opportunity Driven Stage and Discipline Driven Stage. 4 aspects of website service: Internal organization, external environment, website elements and business model. I discovered that company should extend its service to strengthen the model in order to grow substantially. Keywords：New venture creation, Cyberentrepreneur, e-business, Dot.com