How To Lose $12 Billion On A Hot Property
from the nice-work! dept
By 2000, it was clear that Lycos was an also ran in the search and portal arena, but Terra, the big Spanish internet company, still paid a cool $12.5 billion for the company. A few months later, Lycos ditched their own search technology in favor of FAST’s (now owned by Yahoo). Still, with the sudden focus on search and portals again, you would think the site might be worth something. Apparently not very much. The company has sold off Lycos for $95 million to $115 million. That’s quite a loss. The new owner isn’t named but is rumored to be a South Korean company.
