Internet Market Close Report for 1998.06.02
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|02-Jun-98||point change||% change|
|ISDEX Price Wtd.||1,317.69||-25.88||-1.93%|
Footnote-We recall June 11, 1997 when Intuit paid Excite $40 million to "sponsor" its financial channel and how the market balked. Terms in the Intuit-xcite deal: Intuit paid $13.50 per share for 2.9 million XCIT shares, or about 20% of XCIT. XCIT closes at $56.625 today, already giving Intuit a healthy return on its investment.
Its enterprise software also is far from dead, consider that the division revenue hit $96.1 million for the three months ending April 30, 1998, vs. $91.4 million for the three months ending December 31, 1997. Revenue from Web site Netscape Netcenter reached $31.1 million vs. $21.3 million during that same period.
Internet stocks, venture capital, the money trail --
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