Lycos sells for pennies on the dollar
July 28, 2004If you didn’t know it already, yet another sign that the Internet bubble has completely burst–Lycos has apparently been sold for a pittance–$75 million. Terra paid $12.5 billion for the damn thing just four years ago.
Of course the Terra buy in 2000 was stock, whereas today’s sale is apparently for cash. But still that’s an incredible drop in valuation. Writing off that much goodwill on your books cannot have been fun for the accountants over at Terra.
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