Following on from my The Coming Tech Bust post:

Amid a downturn, another Internet company’s initial offering catches fire

Article Abstract:

Geocities’ stock price surged in its initial public offering, which also continued investor appetites for Internet company debuts. The virtual community raised its value to $1.1 billion despite its $5 million loss in 1997 revenues. Company shares, which opened at $17, more than doubled to close at $37.3125. By contrast, the steep stock market decline has especially impacted Internet companies. Geocities participates in an Internet sector that offers free real estate online and frequently organizes chat areas. These companies aim to profit through advertising on users’s home pages and other pages that participate in their services. Internet portals such as Lycos represent the primary competition to virtual communities. Lycos strengthened its position by acquiring WhoWhere for $133 million in stock. WhoWhere’s Anglefire service, which allows Internet users to locate phone numbers online, was the fastest-growing site in the 1st half of 1998, according to a recent Media Metrix study.

From the New York Times, 1998. Cute no? Found it completely by accident – the ‘net is full of happenstance. Did you know I used to be a virtual community consultant? I still prefer it to social network. Though not by much…

If you had a Geocities site, ‘fess up here. Where are they all today hmm? WhoWhere sounds interesting…