Internet Market Close Report for 1998.01.07
Steve Harmon | January 07, 1998
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ISDEX & Market Moves
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Yahoo (NASDAQ:YHOO) makes more quick moves in '98 with a $1.35 million investment in $1.35 million into Internet-based broadcaster AudioNet. Like its other deals this one plugs AudioNet into Yahoo's leading Internet distribution machine. Yahoo users will be able to tune into audio feeds based on topics their surfing on.
Lycos (NASDAQ:LCOS) signs a multi-million dollar deal with AutoConnect, one of the largest auto auction services in the U.S. with more than six million cars run before buyers each year. AutoConnect will pay Lycos an undisclosed sum that we estimate, based on our knowledge of commerce deals like this, could be in the $10 million range with perhaps a piece of sales also thrown in.