Lycos dating search
On August 2, 2004, Terra announced that it was selling Lycos to Seoul, South Korea-based Daum Communications Corporation for .4 million in cash (0.96 million today), less than 2% of Terra's initial multibillion-dollar investment.
In October 2004, the transaction closed for sale of half of the business and the company name was changed back to Lycos Inc.
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The transaction closed in October 2000 and the merged company was renamed Terra Lycos, although the Lycos brand continued to be used in the United States.
Overseas, the company continued to be known as Terra Networks.
Lycos is a university spin-off that began as a research project by Michael Loren Mauldin of Carnegie Mellon University's main Pittsburgh campus in 1994. was formed with approximately US million (.2 million today) in venture capital funding from CMGI.
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