Back When Yahoo Bought Geocities

seeing Yahoo shut down GeoCities makes her feel 143 years old, “in Web years.”

Why? Because way back in January 1999, when Yahoo bought GeoCities for $5 billion in stock, Kara wrote up the Wall Street Journal‘s page one story on the sale, headling it: “Those Who Tied Fortune to GeoCities Yell Yahoo! All the Way to the Bank.”

It’s a nice amble down memory lane:


Last spring, Thomas R. Evans was nervous about leaving his longtime job at the top of a powerful Manhattan media company for an Internet start-up near the beaches of Southern California. So he talked to his boss, real-estate and publishing tycoon Mort Zuckerman.

“I was wondering if this whole Internet thing was real and sustainable,” says Mr. Evans, then publisher of the Atlantic Monthly and U.S. News & World Report. “I wanted his blessing in a way.”

Virtual Payoff

Mr. Evans got Mr. Zuckerman’s nod–and a lot more. You know the drill by now (though it may not be getting any easier to hear). He became chief executive officer of GeoCities , an electronic casbah of about 3.5 million Web sites, and helped lead its initial public offering last summer. Then Thursday, Yahoo! Inc. agreed to buy the young company for about $5 billion in stock. It means the value of Mr. Evans’s stock options soared by 65% Thursday to a dizzying $200 million.

Continue reading at BoomTown >

Geocities investor Fred Wilson also has a great eulogy this morning at A VC.

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