Lycos Europe gets excited about Q1 results
Well, someone has to
Lycos Europe reckons its well on the way to being Europe's leading portal after Q1 revenues to Sept 30 rose 226 per cent to E15.8 (£9.58) million (before acquisitions), compared to the same period last year, and losses fell 42 per cent on the previous quarter.
While Lycos Europe is keen to stress that gross profit is up 120 per cent to E5.4 (£3.3) million, it's less happy to report that net loss jumped almost six fold from E5.2 (£3.15) million to E30 (£18.2) million. Lycos Europe is currently in the process of buying Scandinavian portal, Spray Network, and MultiMania of France.
Thus' parent company, Scottish Power, has expressed its "disappointment" with the company's performance after recent results showed increasing underlying losses, despite an extra £100 million in funding from Scottish Power and a £320 million debt facility. Senior figure at Scottish Power would not comment on speculation that it would sell its 50.1 per cent stake in the telecoms operator.
Online invitation site, Mambo.com is hanging up its dancing shoes. Instead of managing invitations and RSVPs for consumers it is going to license the payment technology it developed for its site. The invite service stops on 20 November and the site is urging customers to make copies of their address books and let their guests know things have changed. Mambo set up a year ago as competitor to Evite.com, which cut 60 per cent of its staff on Thursday.
Yahoo! is buying Taiwanese portal Kimo in a deal valued at more than $150 million. The move is expected to revamp Yahoo!'s Greater China business which lags behind its US, European and Japanese operations.
Capital Radio has been hit by the dotcoms blues, but has offset the damage by boosting revenues elsewhere. Sales to dotcom advertisers peaked at ten per cent of the company's revenues in May, but by September, stood at five per cent, the company said. ®
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