Tuesday, August 17, 2010

Blast from the Past - How to Lose $12.4 Billion in a Decade

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Some of you longer term investors who used to enjoy the "good ole days" when you could daytrade Lycos, Excite, or Yahoo (at the time considered equals) for a good 9-10% a day, anytime there was an announcement that had to do with 'eye balls' or 'web hits' will enjoy this one.  Sort of like the "where are they now?" for once famous TV sitcom actors from the 1980s.  Frankly, I did not even know Lycos still existed but apparently it still gets enough traffic an Indian firm decided the name had some value.  Err... a bit less value than a decade earlier...

Amazingly Lycos is still the 78th most visited site in the world - who knew!

(somewhere the folks who put together the Time Warner-AOL merger are saying "hey we weren't the only one!" while Mark Cuban is still laughing that Yahoo made him a multibillionare -$5 billion- for Broadcast.com)

Via AP:

  • An Indian company on Monday said it is buying Lycos Inc., once a high-flying U.S. Web portal, for $36 million from Korean Web company Daum Communications.  The buyer is Ybrant Digital, a digital marketing company based in Hyderabad.
  • Originally based in Waltham, Mass., Lycos was one of the top destinations on the Web around 2000, helped by its Tripod Web-hosting services. It was bought by Spanish Internet service provider Terra Networks SA in 2001, in a deal originally valued at $12.5 billion.
  • Lycos was unable to keep up with Google, Yahoo and other competitors for the attention of Internet surfers. In 2004, when Lycos was the eighth-largest destination on the Web, Terra sold the Web portal business to Daum in 2004 for $105 million while keeping other assets.
  • Lycos says it gets 12 million to 15 million monthly unique visitors a month in the U.S., and 60 million world-wide. Online research firm comScore pegged Lycos’ traffic at 42.4 million unique visitors in June, enough to put it at the 78th spot worldwide.

In a related note - Inktomi and Theglobe.com are making a joint bid for AltaVista at $8.* (this is only funny if you lived the Wild West days of 1998-1999)

*I lie.

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