Social Networks and Economic Downturn

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…

Laurel Papworth

Named by Forbes™ Magazine in the Top 50 Social Media Influencers globally, named Head of Industry, Social Media (Marketing Magazine™) and in the Power150 Media bloggers (AdAge™). CERT IV Training and Assessment certified trainer (Diplomas and Certificates etc) Adult Education. Laurel has manager Facebook Pages for Junior Masterchef, Idol, Big Brother etc. and have consulted on private online communities for banks Westpac, not for profits UNHCR & governments in SE Asia. Lecturer, social media, University of Sydney for 10 years and Laurel has 11,000 online students. Laurel Papworth personally connects to 6 million followers online and has taught around 100,000 people in the last 10 years how to be social media managers.

3 thoughts on “Social Networks and Economic Downturn

  1. Back in high school, for a science project, I wrote a Visual Basic program that was basically just a little database for collecting and organising both postal and internet addresses and other things… with options to export to a few different formats including a ready-made html page.

    And all the online documentation… was literally online, and on Geocities.

    What is really tragic is that its been almost ten years since high school and I found a printed copy of the documentation just a few days ago. Though I threw it out. lol

  2. I used to have a Geocities poetry website before I moved on to my blog, Captain Picard’s Journal.

  3. Social networks have also been used to examine how organizations interact with each other, characterizing the many informal connections that link executives together, as well as associations and connections between individual employees at different organizations. Social networks also play a key role in hiring, in business success, and in job performance. Networks provide ways for companies to gather information, deter competition, and collude in setting prices or policies.


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