News Byte

Lycos Sale Prompts Wave of Nostalgia Across Net

News that Indian online marketing company Ybrant Digital had purchased the search portal Lycos from Korean search outfit Daum Communications caught the tech world by surprise today. Not so much surprise at the deal, but surprise that Lycos, a major Web brand in the late ’90s, was still around. It is, but time has not been kind to its market value. Established in 1994, Lycos was bought first by Spain’s Terra Networks in 2000 for about $12.5 billion, then by Daum in 2004 for about $95 million. Ybrant picked it up for $36 million cash.

Back to the Future: AOL Goes Local With Two Acquisitions (Including CEO's Company)

Adding the final leg of its new strategy to reinvigorate AOL, the Time Warner online unit said it was buying two small local start-ups, Patch Media and Going. Each acquisition–which focus on hyperlocal community news (Patch) and events (Going)–is small, about $10 million. Ironically, local has previously been a big arena for AOL, which launched its Digital City unit with great fanfare more than a decade ago. AOL still runs Digital City, as well as its CityGuide listing offering. But, in a move that will surely be scrutinized, Patch is a company whose principal investor has been AOL’s new CEO Tim Armstrong. AOL declined to say how much he had invested in the company, but sources said it was less than $5 million.
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Highland Capital Partners' Bob Davis Speaks!

In BoomTown’s ongoing meet-the-VCs-and-cringe series, here’s a chat I recently had with Highland Capital Partners’ Bob Davis. I have known Davis for a long time from his previous life as Co-Founder and CEO of Lycos, the then-third-placed portal and one of the shooting stars from Web 1.0. And I would have to say he cracked [...]