The Internet is rapidly becoming the dominant platform for applications and services. Technology innovations such as XML, AJAX and JavaScript have accelerated development cycles and enhanced functionality. Open source software, together with advancements in hardware performance, has lowered the cost to build and run these applications. In addition, new service-oriented architectures make it easier to integrate with complementary web applications to deliver more compelling user experiences. Redpoint has backed many of the early Internet application innovators and is helping to shape the next generation of companies in this field.