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Understanding characteristics of Internet businesses from a cross-cultural perspective could offer valuable insights on developing business strategies and policies. This work is concerned with revealing divergence and convergence of Internet businesses in their financial performance, given organizational conditions and cultural context. For this, we studied the association between static organizational attributes (core activity, origination, firm age, and industry type) and a firms financial performance (gross revenue and net income). Relevant data was gathered from representative Internet firms in Korea and U.S. Data analysis indicated that, besides industry type, overall connection between selected organizational variables and financial performance was weak. Cross-national comparison showed that Korean firms financial performance was comparable to U.S firms during the period of economic turbulence. A noticeable difference was that Korean Internet firms and their business models were more service-oriented than U.S. counterparts.