Once-Proud Lycos Shutting Down Lycos Europe
The end seems to be near for Lycos Europe. Although the company’s name used to represent one of the world’s most important Internet businesses, this branch may soon be chopped up, and then various parts and services will either be sold or terminated.
A quick glance at the organization’s website is enough to tell anyone that things aren’t going well. Look at the diving stock chart on the left, for starters. The technical problems and revenue decline mentioned in the middle column aren’t positive developments, either. And in between these two bulletins sits the real deathblow.
After a little hemming and hawing, the "strategic review process" announcement simply states, "[T]he Management Board and the Supervisory Board of LYCOS came to the conclusion that the best available option of the company is to (i) strive for a sale of its domains, Danish portal and shopping activities and (ii) to discontinue the portal and webhosting activities."
Since a black lab is the Lycos mascot, this brings to mind unfortunate metaphors about being put down.
The decision still requires the approval of shareholders, though, so it’ll at least be a sort of family decision. Lycos’s shareholders will meet on December 12th, and they stand to gain 50 million if the new plan is adopted.