January 28, 1999: Yahoo Aquired GeoCities
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First started as Beverly Hills Internet (BHI) GeoCities was one of the largest online user-created communities. At it’s height, GeoCities was the third-most visited website. Pages built by users to slice their piece of the Word Wide Web Pie.
Yahoo! saw this as a great addition to their web so on January 28, 1999 Yahoo! announced they were purchasing GeoCities for $3.6 billion dollars and $1 billion in stock options. Because of this news, GeoCities stock jumped up 42.25 points to $117/share. Yahoo! jumped up 31 points to $367/share.
GeoCities was closed by Yahoo! on October 26, 2009
Fun Fact: GeoCities still exists – in Japan.
Wikazine – Full show notes for January 28
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