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November 26, 2008 -- (WEB HOST INDUSTRY REVIEW) -- Web solutions provider Lycos Europe (www.lycos-europe.com) announced on Wednesday it plans to sell some of its assets and close the rest, including its web hosting service,�after it failed to secure an investor,�following struggles to compete with search engine giants like Google and Yahoo.
The company, which provides search, web hosting, email, social networking, online shopping tools and domain names registration services, reported a net loss of 17.1 million euros in the first nine months of 2008 on sales of 46.9 million euros.
In May, Lycos Europe CEO Christoph Mohn said he saw the company as an attractive target for a US or Asian buyer.
In the past few months, Lycos, along with its advisors, have evaluated all possible options for the business, including the sale of the company as a whole, a sale of all or parts of its assets, restructuring and partial liquidation of the business.
After reviewing all of these options, Lycos' management and supervisory boards decided that it would work towards selling off its domains, Danish portal and online shopping tools divisions, while discontinuing its portal and web hosting divisions.
Lyco also plans to distribute 50 million euros in 2008 to its shareholders. As of the end of September Lycos Europe had 694 employees, which nearly two-thirds of whom were employed in Germany.
The strategic plan still needs to be approved at the upcoming December 12 shareholder meeting in Amsterdam, the Netherlands.
The company is a joint venture of German media group Bertelsmann and Spanish telecommunications provider Telefonica, while the rest of the US-based Lycos (www.lycos.com), which is still one of the world's top Internet portals, is owned by South Korean Internet company Daum Communications (www.daum.net).
Read Back Issues of WHIR Magazine
October 2009 - Web Hosting's All Star Team
This has been, for us, one of the most interesting, exciting and challenging build-ups to an issue of the magazine yet, Web Hosting's All Star Team. The balloting process was our first experiment with a kind of user participation we're planning to do a lot more with in the months to come. We had thousands of ballots submitted, with hundreds of write-in suggestions and a demonstration of user engagement that has us feeling super positive about the project.
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July 2009 - What am I Worth?
One of the interesting luxuries of working on a project like the printed WHIR magazine is that it allows us to play with things like our point of view from one issue to the next. In recent months we've been giving added attention to the kind of practical and applicable advice aimed at smaller hosts and resellers. This issue carries on with that point of view, asking, in our cover story, "what am I worth?" It's a complicated question without a clear-cut answer.
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May 2009 - The Blueprint for a Small Web Host
I was a little surprised by how difficult it became to see this idea through. We set out to assemble a blueprint for a small hosting business, but butted up pretty quickly against the general impossibility of covering all the territory that was out there to be covered. The basic constraints of a printed magazine, and the less-than-infinite amount of time we had available forced us to face the fact that we could never produce an exhaustive guide to starting a hosting company.
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