Internet search engine Yahoo! Inc. confirmed Thursday it will buy GeoCities, a fast-growing Web site community, in a $3.6 billion (a hefty premium over GeoCities’ market capitalization of $2.3 billion) deal that will further solidify Yahoo!’s position as a frontrunner in the online popularity contest.
CNNfn, January 1999, about Yahoo’s acquisition of Geocities for $3.6 billion. (via soupsoup)
This is absolutely stunning to me. How heady the dotcom bubble was. As a reference point: at the time the Yahoo! acquisition was announced, Geocities had ~$30mm of revenue and a yearly net loss of $19.8mm. That means that Yahoo! paid over 120x revenue for Geocities, a money losing company that it would eventually shutdown completely.
Wow.
Definitely read the whole article for some other dotcom bubble nostalgia.
Source: leitch
33 Notes/ Hide
-
detect-invisible liked this
-
seosweetheart liked this
-
p90x-workout liked this
-
squill37 reblogged this from hellonewworld
-
matthewknell liked this
-
testingdistance liked this
-
mykol78 liked this
-
davidkendall liked this
-
enteekaygee liked this
-
billda reblogged this from soupsoup and added:
soupsoup) This is absolutely stunning to me. How heady the dotcom bubble was. As a reference point: at the time the...
-
adamiss reblogged this from caro
-
adamiss liked this
-
stub reblogged this from caro
-
stub liked this
-
dailybunch reblogged this from caro
-
dailybunch liked this
-
ryancraven reblogged this from leitch
-
illustratedexample liked this
-
markcoatney liked this
-
markarms liked this
-
appropriation liked this
-
hellonewworld reblogged this from leitch
-
artistspaid liked this
-
ex2 liked this
-
soupsoup reblogged this from caro and added:
leitch and caro)
-
caro reblogged this from leitch
-
meredithbklyn liked this
-
jaimeleigh reblogged this from leitch
-
leitch posted this
