Terra Networks

dot com vs beer

Korean superportal Daum.net is buying Lycos from Terra Networks for 105 million dollars. Terra originally had paid 12 billion dollars for the portal, which means that they're giving it away at close to 1/100th at the cost they paid! In case you didn't know, Daum is the biggest portal in Korea and is the 11th most popular website in the world, according to Alexa. But how wise was this deal for Terra? Here's a comment from /.:

Hm... $12.5 billion can buy about 925 million 12-packs of bottled Guinness Draught. At the 5 cent per bottle recycling rate in NY state, that would net about $555 million.