Mark Ghuneim and David Peris dug up this delicious chestnut from January, 1999: “Internet search engine Yahoo! Inc. confirmed Thursday it will buy GeoCities, a fast-growing Web site community, in a $3.6 billion deal that will further solidify Yahoo!’s position as a frontrunner in the online popularity contest.” RIMSHOT.
Makes a billion dollars for Tumblr seem like a steal. Here’s what I don’t understand: who’s blabbin’ about the potential acquisition of Tumblr by Yahoo!? Oh, gosh, whoever benefits from that. Tumblr made $13 million in 2012, so $1,000,000,000 sounds totally natural.
Oh, and how was GeoCities at the time of its Yahoo! acquisition? “In a separate announcement, GeoCities posted a net loss of $8.4 million…. For the year, the company lost $19.8 million.”