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Lycos Sold for $95 Million
July 28, 2004
In yet another example how the "dot bomb" era continues to plague the ecomony, Lycos, who was purchased for $12.5 BILLION just four years ago, now gets dumped for less than $100 million.
Our take: With a market share of less than 1% and dropping rapidly each quarter, $95 million might be too much. Unless there is a strong customer base, which is doubtful, as customer abandonment rates are at an all-time high, this was a bad move by the unnamed South Korean company that made the buy.
It is just a matter of time until Lycos follows Infoseek, Northern Light, and Magellan as a once proud search engine buried.