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The purchase of YouTube by Google for $1.65bn (£883m) is just the latest in a series of high-profile, high-value deals among internet firms.
But does it mean that we are entering another dotcom boom era, like the one in the late 1990s that ended in a stock-market collapse?
Certainly, the current set of numbers is impressive.
Last year Rupert Murdoch's News Corporation bought MySpace, the online community site popular with teenagers, for $580m.
Internet auction firm eBay bought Skype, the leading provider of voice-over-internet telephone services, for $2.6bn.
And Yahoo is rumoured to be in talks to buy Facebook, which allows university students to keep in touch with their friends, for $1bn.
At first glance, this seems to be a repeat of the dotcom boom of the late 1990s, when $2bn per week was flowing into the venture capital firms of Silicon Valley.
The mad dash to profit from the internet led to many internet firms rolling in cash before they had made any sales, or indeed had any customers.
The stock market valuations of internet firms climbed rapidly, fuelling the boom, starting with the first flotation, of Netscape, in 1995.
Five years later, in 2000, the boom peaked - and investors finally realised that dotcom companies were not necessarily a licence to print money.
The resulting collapse set back investment in hi-tech firms for several years.
Among the casualties of the era were companies such as pets.com and boo.com, an online clothing company.