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Lycos Invests in Streambox

Lycos Inc.'s Korea unit Tuesday took an equity stake in Streambox Inc. as part of a deal for Streambox to provide media search services on Lycos Korea.

April 25, 2000
By John Townley: More stories by this author:

Lycos Inc.'s Korea unit Tuesday took an equity stake in Streambox Inc. as part of a deal for Streambox to provide media search services on Lycos Korea.

This partnership allows Lycos Korea to provide "powered by Streambox Media Search Services" to its users. Advertising revenues will be shared.

"We're pleased to partner with Lycos Korea to offer Streambox Media Search to the growing audience of broadband Internet users in Korea," said Katoi Shin, chief executive officer of Streambox Korea.

"Lycos and Streambox both share the commitment of delivering a quality broadband experience to its users. This deal allows for a fully realized broadband experience in Korean and International languages."

"We believe that Streambox Media Search will provide a better broadband entertainment and information experience to our customers," said Moon-Soul Chung, CEO of Lycos Korea. "We look forward to continuing to grow with the Korean market as well as with Streambox."

Bob Hildeman, CEO, Streambox U.S., said the deal is a natural given broadband penetration in Korea.

"The Korean market is far ahead of the US in broadband usage, with 60% higher penetration. This deal mirrors how the US market will develop for Streambox as broadband and rich media become more widely accepted."





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