Lycos bought by S-Korean company

Remember Lycos? Remember the dot com boom? It has been rumoured last week that Lycos would be sold cheaply to some company in S-Korea, but we didn't want to report on rumours (Well, we do, but only if we have the strong feeling that there is some truth in it).

Now it has been confirmed and Wired News reports that "South Korea's top website operator, Daum Communications, is to buy the U.S. portal business of Spain's Terra for $95 million, less than 1 percent of the US$12.5 billion Terra paid near the height of the Internet boom." This put Daum Communication, a fast growing S-Korean technology company into the global tech spotlight, however, the sharemarket hasn't appreciated the move as of now, since Daum's shares declined! Lycos also runs Tripod, a service that offers users free webpages, and is also the owner of Wired News.

Lycos was bought by Terra of Spain back in 2000, for US$12.5 billion (see the difference?) , and is ranked 7th in the search engine rankings in the US.

(Actually, we are wrong in talking about search engines - they are actually portals, but revamp themselves from Search Engine to Portal to Search Engine - but this is another entry)