Feeds

May you live in Excite.com times

Portal could shut, says Business Week

  • alert
  • submit to reddit

Internet Security Threat Report 2014

ISP ExciteAtHome may shut down its Internet portal Excite.com if no buyers step in soon Businessweek claims.

Patti Hart, ExciteAtHome's new CEO, is looking to sell loss-making Excite but "may shut it down in the next several months in no buyers emerge," the magazine reports.

Hart, the former CEO of Telocity, was appointed CEO of the California-based ISP less than a month ago.

Earlier this week ExciteAtHome announced 380 redundancies, mostly from its media sections. The move followed the loss of 250 jobs at the company in January.

The company also reported that net losses for the first quarter increased to $832.6 million.

According to Businessweek, 44-year-old Hart made a deal with Excite@Home over the portal's future before she agreed to take on the job of CEO. While negotiating with the company she insisted on the freedom to flog its assets, including Excite, one source told the magazine.

She also helped convince the board to get rid of former chairman and CEO George Bell. "I think Patti didn't want any confusion about who was in charge of the company," commented analyst Abhishek Gami of William Blair & Co.

Last month the company said it was considering quitting Europe. At the time Evan Rudowski of Excite Europe said the company would "rather sell the company for $1 than withdraw from Europe after all the time and money we have invested." ®

Related Stories

ExciteAtHome slashes 380 jobs
ExciteAtHome cuts 250 staff
Who will give me $1 for Excite Europe?

Choosing a cloud hosting partner with confidence

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.