Thursday, April 23, 2009
Yahoo To Shut Geocities
Internet portal Yahoo is quietly shutting Geocities, the Internet home page portal it acquired in 1999. Yahoo said it is no longer accepting new customers, and will discontinue the service later this year. Geocities was one of Southern California's original, dot com successes, having both a successful IPO in August of 1998, and a $4.5 billion stock-and-option acquisition by Yahoo in 1999. The firm was later moved to the Bay Area by Yahoo. Geocities founder David Bohnett is now running his own investment firm, Baroda Ventures, which has become more active in recent months, and just hired on venture capitalist Peter Lee (formerly of Prism Ventures and Clearstone Ventures) as a Partner at the firm.