Ybrant buys Lycos for $36 Million
Ybrant Digital has bought social media bigwig - Lycos, which operates a number of search-based Internet properties and services like Lycos.com, Tripod, Angelfire, Gamesville, and HotBot.
Lycos was earlier owned by Korea-based Daum Commuications. The deal is valued at $36 million.
Lycos consistently averages 12 - 15 million monthly unique visitors in the U.S., and is a top 25 Internet destination worldwide, reaching nearly 60 million unique visitors globally.
“The quality of content and tools offered by Lycos has always attracted the best of the consumers across the world. Our goal is to combine the benefits of Ybrant’s global network with what Lycos has to offer in creating a compelling global destination for our advertising clients worldwide. Coupled with our offerings for advertisers, we do present new products to our local users worldwide,” said Suresh Reddy, chairman and CEO, Ybrant Digital.
Daum reorganized the business of Lycos in 2009 and has turned Lycos profitable. As a result of the sale of Lycos, Daum will be able to devote its energy and corporate resources in order to find new potential growth business and future-oriented pipeline such as mobile, LBS, SNS and Search. “As a result of the sale of Lycos, Daum will be able to devote its energy and corporate resources to core domestic businesses including search, mobile services and map.” said William Chao, CEO of Daum Communications.
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