In the internet era,many small-and-medium enterprises begin to engage in e-commerce field.There have been many legends of internet in many contries for the last decade. Traditional enterprises set up their websites and step in the e-commerce continuously. They try to create new entrepreneurial stories. In the past, only large corporations have the capability to perform global business and operate twenty-four hours a day. Because of the sufficient manpower and financial resources, they are proactive in the marketing and customer service. However the internet technology and e-commerce have transformed the traditional business model. Nowadays, small or median enterprises.also can reach global customers and perform the transactions through the internet for twenty-four hours a day. This thesis is about the small and median enterprises to start the e-commerce by joining the H company that is an ISP vendor in Taiwan. This is a multiple cases research containing six internet companies. The research method is the grounded theory. After the interviews and associated data collection, we analyzed the data according to the three steps of grounded theory; they are open coding, axial coding, and selective coding. The internet venture can be described as three stages: starting a business idea, the start-up process, and the internet venture performance. For those internet startups with satisfactory performance, the research summarizes the following characteristics. The entrepreneurs well understand the web skills for internet transaction. Therefore, they pay much attention to the e-business procedures so that they are able to well maintain their websites,and make the best use of the websites to promote their merchandises and to conduct long-term customer¡¦s relationship.On the other hand,for those internet ventures with worse performances, the entrepreneurs usually know little about the e-commerce. They hardly participate their e-shops and have no time to manage their websites. Because they also have low expectation of the e-commerce, they don¡¦t learn the management tactics of inernet venture. For one extreme case, the entrepreneur has never done anything on his website. In this research, it is found that the internet venture performance is positively correlated with the expectation level. The type of merchandise is not the most critical factor to succeed an internet venture. Whenever the entrepreneurs have the higher understanding of the internet technology and the more participation to conduct the e-commerce activities, the performances are always better. Usually, for those startups with proactive entrepreneurs, they have higher possibilities to gain satisfactory financial performance.