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Internet Market Close Report for 1998.10.01

Written By

Oct 1, 1998

2 minute read

	01-Oct-98	point change	% change
ISDEX	98.39	-8.04	-7.55%
NASDAQ	1,612.33	-81.51	-4.81%
DJIA	7,632.53	-210.09	-2.68%

Moves and news:

PSINet (NASDAQ:PSIX) agrees to acquire Japanese ISP Tokyo Internet for undisclosed terms. PSINet reports the buy would add about $35 million in annual revenue to PSIX. PSINet also closed on its acquisition of Korean ISP Inet, which will add $11 million annual revenue PSIX says.

Microsoft (NASDAQ:MSFT) plans to launch 24 regional portals for its MSN service, offering local news, info, sports, community, email in several languages. The thing about Microsoft, while CompuServe, Prodigy, Delphi, Genie, Interchange, eWorld all underwent radical change or went broke, MSN keeps going, and going, until Microsoft gets it right. Deep pockets don’t always win but they can keep playing.

Mecklermedia (NASDAQ:MECK) opens the world’s largest Internet and e-business trade show next week, Fall Internet World. More than 60,000 expected to attend the event which runs Oct. 5 – 9 at Javits Center, New York City.

The superbowl of Internet investment conferences! Internet Investment Symposium ’98 @ Fall Internet World!

New York City, Oct. 8-9 as Steve Harmon, Upside, CNNfn, PriceWaterhouseCooper, and more talk 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! Sign up now

LaunchPad Pavilion, part of Fall Internet World ’98, the world’s largest Internet industry trade show held Oct 5 – 9, offers exhibit space for startups ONLY at a reduced price in order to meet their often limited capital available at the startup stage. It is Mecklermedia’s way of letting the newbies get their voice heard. If you or a friend is at a Internet startup and want to exhibit at Fall Internet World (expected attendance is more than 50,000) in New York City’s Javits Center then contact Reed Bocchino 203-341-2826 or email: mailto:rbocchino@mecklermedia.com

Steve Harmon

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