This thesis is an exploration on the growth and profitability models of Internet enterprises. Via literature review and interview with experts ,we try to answer the following questions: 1.What's the vision of Internet? 2.How Internet enterprises expand and grow? 3.How to earn profits? And how to generate the synergy by connecting them with each other? 4.Are there any ways to maintain continuous growth and profitability? From the general influence diagram of Heijden, we could believe that knowledge management is the basis of growth, value chain is the gravity center of development, and continuous innovation is the driver of growth. However, the main actions to make external growth are strategic alliance and M&A, and they are also the fastest ways to expand the scale of business. Furthermore, our research also finds that there are ten profit models with respect to dot com companies. They are (1)Customer Solutions Profit, (2)Value Chain Position Profit , (3)Time Profit , (4)Specialization Profit, (5)Brand Profit , (6)New Product Profit , (7)Switchboard Profit , (8)Blockbuster Profit, (9)Patronize Profit ,and (10)Returns Sharing Model¡C Every dot com company could select 2 or 3 models to manage her business and make profits. For network ecology being continuously changeable, every company could develop suitable profit models according to her management character. Finally, by analyzing that how SOFTBANK CO., a venture capital, expands her Netbatsu kingdom, we conclude that cooperation between dot com companies is the best way to survive and grow stronger.