Lycos pulls out of Europe

 

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By Matthew Sparkes

Posted on 28 Nov 2008 at 10:38

Lycos Europe is selling up shop and shutting down in Europe, following a period of falling revenues.

The company, which is based in Haarlem in the Netherlands, will be selling its web hosting business and portal after a period which saw a 20% drop in revenue to 46.9 million euros.

The company has 694 staff in Europe, the majority of whom are employed in Germany, but the company also operates in the UK, Spain, Denmark, France and Italy.

"Lycos Europe is a pan-European network of websites, offering a broad variety of content channels and online services, e.g. communication tools & communities, web search, e-commerce, web hosting, home page building and internet access," says the Lycos website.

In 1999 the site was the most visited website in the world, and sold the following year for $5.4 billion to Terra Networks, a Spanish telecommunications company.