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Lycos Purchases Chinese Portal Myrice
Lycos, an international web company announced March 8 in Singapore that it had successfully accomplished its purchase of Chinese portal "myrice". This is the first time for foreign capital to buy Chinese portal website.
It's reported that "myrice" had already developed into a famous Chinese portal boasting a daily visit of 4 million as it once purchased some noted individual websites with its abundant capital. But now, it is purchased by Lycos at a price of about US$12.75 million.
According to insiders, the competition for Chinese portal websites will become increasingly severe with the landing (in Asia, including China) of many international web giants like Yahoo, America Online, Lycos and Microsoft.
Lycos, having a huge capital and a Spanish telecom background, so far has successfully expanded its business to over 40 countries and regions and owns as many as 13 portals of different languages in Asia alone.
By PD Online Staff Member Deng Gang
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