Bertelsmann Puts Up $12 Million For Tripod Europe
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Lycos Inc. Wednesday said Bertelsmann AG, its Lycos Europe partner, will provide $12 million in financing to launch localized versions of Web community Tripod in each of the 12 countries where the joint venture operates.
Localized versions will include user homepages, language-specific chat rooms, and Tripod's e-commerce offerings.
"The initial success of Tripod Europe has surpassed our most aggressive expectations and, in just six months, has already reached its projected numbers for the year's end," said Bo Peabody, co-founder of Tripod and vice president of network strategy for Lycos. "Bertelsmann's support of Tripod is allowing us to create the first true global online community."