Article Abstract:
Geocities' stock price surged in its initial public offering, which also continued investor appetites for Internet company debuts. The virtual community raised its value to $1.1 billion despite its $5 million loss in 1997 revenues. Company shares, which opened at $17, more than doubled to close at $37.3125. By contrast, the steep stock market decline has especially impacted Internet companies. Geocities participates in an Internet sector that offers free real estate online and frequently organizes chat areas. These companies aim to profit through advertising on users's home pages and other pages that participate in their services. Internet portals such as Lycos represent the primary competition to virtual communities. Lycos strengthened its position by acquiring WhoWhere for $133 million in stock. WhoWhere's Anglefire service, which allows Internet users to locate phone numbers online, was the fastest-growing site in the 1st half of 1998, according to a recent Media Metrix study.
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Article Abstract:
Internet service provider and Internet search companies, such as America Online and Yahoo, are among the most profitable stocks because of the new information and commercial services available through World Wide Web resources. Amazon.com watched its stock rise 978.2% during 1998 while it became the most active electronic commerce business on the Internet. The stock market was not as kind to the smaller Internet companies which struggled against the rapid growth of the dominating companies.
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Article Abstract:
In an all-stock merger, CD Now and N2K will join forces in the Internet music business. Jon Diamond of N2K will become chairman of the new company called CDNow/N2K Inc. for the present. Jason Olim will remain president and chief executive. Two of N2K's executives will serve on the new company's board. The largest competitor, Amazon.com, will give even the new combined company a run for its money, even though it just entered the music selling business.
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