Yahoo Kills GeoCities

GeoCities was a pioneer and a goldmine for its founders and investors, fetching $3.6 Billion in 1999 dollars.  Hopefully the beneficiaries cashed out quick, as that was once-upon-a-time when Yahoo’s stock was well above the $300 per-share mark.

The point here is, Yahoo once again blows it…shoots themselves in the foot…makes a dumb move…drops the ball…is the butt of a joke.  Yes, the site was antiquated in Internet terms, but GeoCities had users which means it had value.

Analogy – I own a fixer-upper in The Bronx.  It needs some paint and the pipes aren’t copper, and ok, there is a slight bug problem.  So what do I do?  Tell the tenants they have 120 days to vacate since I am going to demolish the building – or – sell to a speculator who knows a good contractor who can renovate?

To give you an idea of how much value GeoCities may have held, it was the 199th most visited website in the world at the time of its shuttering, according to Alexa, the de-facto authority on web traffic measurement.

This was a pre-Carol Bartz decision, I am sure, but the deal was sealed on her watch.

Bookmark and Share

More »

Powered by Bookmarkify™