Yahoo! Inc. (NASDAQ:YHOO) has another
failed acquisition to add to its growing list: Web page publishing site GeoCities, which the company acquired for $2.9 billion back in 1999.
A
note on the site says GeoCities will "close later this year." The
news follows the
death of travel comparison service FareChase, which Yahoo! acquired for undisclosed terms in 2004. Yahoo! is also shuttering Briefcase, an online storage service launched in 1999.
As a
Cnet story reports, GeoCities' star has fallen because people are veering away from building standalone Websites, opting instead for the simplicity of updating their Facebook pages. The next business on the list might be Yahoo!'s employment site HotJobs, which reportedly is being shopped around.
-- Olaf de Senerpont Domis
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