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Pop Quiz: How Did a $12 Billion Search Engine Sell for $36 Million?

Ten years ago, search-engine portal Lycos sold to Terra Networks for $12.5 billion. Six years ago, Korean Internet firm Daum acquired the company for $95.4 million. And today, Lycos switched hands again, this time to India's Ybrant Digital--for only $36 million. That's a 99.712% drop in value in just one decade.

The company went from receiving roughly 50 million unique visitors daily to boasting that it reaches about that number in an entire year. By 2007, Lycos' share of the global search engine market dropped to 0.01%. To put that in perspective, Google Kenya around that time had two-times that market share. Lycos' only other asset: AngelFire, possibly the world's worst free web-hosting service.

Who in their right mind would want to purchase this company? Here's a look back at how each of its acquisitions were described by the purchasing company at the time. See if you can guess when each statement was made.

1. "Overnight in one fell swoop,

See full article on Fast Company