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?

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.