RealTime IT News

Bertelsmann Puts Up $12 Million For Tripod Europe

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.

Lycos-Bertelsmann previously launched Tripod UK, Tripod France, Tripod Germany, Tripod Italy, Tripod Netherlands and Tripod Spain, and several more country sites are in the works.

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."

Lycos boasts that Tripod Europe has grown at an average rate of 70 percent since its October 1998 launch and has more than 450,000 registered members.