RealTime IT News

CMGI Unit Takes Control of Raging Bull

AltaVista Co. Monday purchased online investment community Raging Bull.

AltaVista, the premier media and commerce network and a majority-owned operating company of CMGI Inc. (CMGI) will acquire the portal through a stock exchange. Specific details were not disclosed. CMGI already had a minority stake in Raging Bull.

According to October Media Metrix data, this combination will move the AltaVista Network into the ninth largest network in terms of total page views, surpassing Amazon.com (AMZN) and Time-Warner Inc. AltaVista is a global Top 10 Internet network with more than 40 million unique users and 1.6 billion page views worldwide in October.

Raging Bull has more than 1.7 million unique users who participate in almost 10,000 dynamic discussion boards.

Raging Bull users are savvy investors that actively contribute to the Raging Bull community, seeking and sharing business and financial information previously reserved for investment professionals. Media Metrix recently ranked Raging Bull as the second "stickiest" financial site used at work and third "stickiest" financial site used at home. Users spend an average of more than 20 minutes per visit, according to I/PRO audited numbers.

CMGI said Raging Bull has tripled its membership since April and now boasts nearly 5 million daily posts on nearly 10,000 dynamic message boards. Internal traffic measures more than six million page views each trading day.

Users of AltaVista and Raging Bull will benefit from the integration of services and the active exchange of investing ideas and informed opinions. Raging Bull will maintain its Web site while fully integrating its complete content offering into the AltaVista Live! Money channel, which is the first channel to debut on the recently unveiled AltaVista Network.

AltaVista and Raging Bull plan to unveil their combined offerings throughout next year, but said they plan to offer content and community services in addition to financial services.

"We are thrilled to cement this relationship with AltaVista, a site that has quickly become one of the fastest growing and most recognized consumer destinations on the Internet," said Stephen Killeen, Raging Bull's president and chief executive officer.

"We believe the combination of both companies will supercharge AltaVista's already meteoric growth and provide users the best one-stop resource for financial content, community and discussion on the Internet."