13-Aug-98 | point change | % change | |
|---|---|---|---|
ISDEX | 132.03 | -3.63 | -2.68% |
NASDAQ | 1,802.54 | -22.99 | -1.26% |
DJIA | 8,459.50 | -93.46 | -1.09% |
- Lycos (NASDAQ:LCOS) – More on Lycos acquiring WhoWhere for $133 million stock instead of WhoWhere going public. Our analysis shows Lycos paying $15 per user although the value per “active” user may be closer to $100. And why didn’t WhoWhere IPO? Excite may have been as much as 50% of WhoWhere’s traffic and once it pulled the plug then WhoWhere’s reach dwindles. Another point: WhoWhere apparently didn’t own the free email accounts provided to Excite members. Overall Lycos got what appears to be a steal of a deal, however.
- CitySearch, which planned to go public, instead chooses to merge with TicketMaster Online. The new entity’s value could exceed $1 billion (if public) by our estimate, $300 million of which we allocate to CitySearch. That’s the IPO valuation it had in its filing. We expect the new amigos to go on a buying spree and roll up entertainment and events into a larger network and then perhaps IPO the works at a later date.
- CBS.Sportsline.com (NASDAQ:SPLN) signs a deal with Internet guide firm Mining Co. to integrate its guides into the sports Web site service. Together they’ll offer co-branded news and info on a variety of sports.
- @Home (NASDAQ:ATHM) sells 2.5 million shares at $46.125 per share, raising $115 million for general corporate needs. We think AOL should acquire @Home and take the combined service to the next-level. More in tomorrow’s Internet Stock Report.
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Internet Investment Symposium ’98 @ Fall Internet World!
Book now! New York City, Oct. 8-9 as Steve Harmon talks investments with some of the top names in the industry…top execs of GeoCities, CMG Info, DoubleClick, venture capitalists doing the $ billion deals, debuts hot startups at Startup Live!, and debates top stocks with the leading Internet stock analysts on Wall Street (Steve was one of them) selected by CBS MarketWatch!”