The Bubble Bursts for Education Dot-Coms

Downturn in Internet stocks speeds a shakeout for the industry

For dot-coms hoping to ride their college-portal and distance-education businesses to small fortunes or big Wall Street paydays, the bubble has burst.

I.P.O.'s are out. Venture capitalists are asking tougher questions about profit potential and demanding larger stakes in young companies in return for their investments.