Editing IiNet (section)

===Early growth===
In 1997, due to growing demand for infrastructure and an increase in staff numbers, the company relocated to the central QV.1 building. Additionally, during the same period, the Western Australian Internet Association established a peering and interconnection arrangement called WAIX<ref>{{cite web |url=http://www.waia.asn.au/waix/ |title=Waix &#124; Western Australian Internet Association |access-date=2008-06-17 |url-status=dead |archive-url=https://web.archive.org/web/20080718231407/http://waia.asn.au/waix |archive-date=18 July 2008 }} Western Australian Internet Exchange</ref> among its members, including iiNet and several other Perth-based ISPs.

With the internet market transitioning to 56K technology in late 1997,<ref>{{cite web|url=http://archive.iinet.net.au/newsletters/november1997.html |title=iiNet Newsletter: November 1997 |author=iiNet Limited |year=1997 |access-date=2008-09-09 |url-status=dead |archive-url=https://web.archive.org/web/20081122080510/http://archive.iinet.net.au/newsletters/november1997.html |archive-date=22 November 2008 }}</ref> traditional racks of modems at ISPs became redundant and expensive. CBD-hosted equipment from [[Cisco]], Ascend, and Livingston became essential to adapt to the changing marketplace. The Perth market also faced competition from budget national providers, notably [[One.Tel]].

In 1998, iiNet's founding partner, Michael Malone, acquired the company entirely and subsequently listed it on the [[Australian Securities Exchange]] in September 1999 (ticker symbol IIN). With new capital, iiNet acquired its major local competitors in the Perth area, including Wantree Internet and Omen Internet, and several smaller competitors like Networx Internet, Infinite Data, Octal, and Net Trek Online Services.

This was perceived by most observers as a rationalisation of an unsustainable services market and allowed not only iiNet, but also other providers such as [[Westnet]], [[Eftel|EFTel]] (itself an agglomeration of several ISPs formed in 2000), ArachNet and Global Dial among others to grow in the local market and to expand into fully-fledged national providers.

After the [[dot-com bubble]] burst in mid-2000, iiNet fared poorly on the markets – with shares at one stage falling to {{AUD|0.20}} from a {{AUD|1.00}} issue price – however its share price recovered as time progressed. In September 2000, iiNet became the first Western Australian provider to offer [[Asymmetric Digital Subscriber Line|ADSL]] technology.<ref>{{cite web|url=http://archive.iinet.net.au/about/mediareleases/00mediarelease13.html |title=iiNet launches ADSL service |author=iiNet Limited |year=2000 |access-date=2008-09-09 |url-status=dead |archive-url=https://web.archive.org/web/20060819231021/http://archive.iinet.net.au/about/mediareleases/00mediarelease13.html |archive-date=19 August 2006 }}</ref>