Ybrant Digital Buys Lycos For $36 Million In Cash
Lycos is a search engine that was created in 1994. Lycos specializes in search, e-mail, and web hosting. Lycos’ original founder is Michael Loren Mauldin when he was a student at Carnegie Mellon University. In May 2000, Lycos was sold for $13 billion to Terra Networks. The company has been sold again this week. Here’s how it all went down.
After Lycos was sold to Terra Networks for $13 billion, the company was renamed to Terra Lycos. In October 2004, Lycos lost a lot of its market value and was sold off to Daum Communications, a Korean portal. Ybrant Digital, an Indian company decided to take the search engine off of the hands of the Korean company at a price of $36 million.
Lycos is a company that had one of the fastest IPOs since inception. In 1997, Lycos was one of the first profitable Internet companies. Lycos bought Tripod for $58 million in 1998 in order to get into the portal market. Lycos also ended up acquiring several other properties including Gamesville, Quote.com, Angelfire, Wired Digital, Matchmaker.com, HtmlGear, and Raging Bull.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry