View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
October 15, 1998

EXCITE REPORTS FURTHER LOSSES ON REVENUES UP 176%

By CBR Staff Writer

Excite Inc, the Redwood City, California-based internet portal company, has reported third quarter net losses of $6.8m down from losses last time of $8.2m on revenues up 176% at $44.0m; nine- month net losses were $39.7m up from losses last time of $28.4m on revenues up 198% at $100.0m. Second quarter and nine-month figures include non-cash charges of $7.6m and $10.1m respectively for the amortization of payments made to Netscape Communications Corp. The Netscape money reflects an unusual deal Excite struck earlier this year, when it agreed to pay the browser giant $70m upfront for the privilege of providing a search engine and broadcast content to Netscape’s NetCenter site (CI No 3,414). Excite intended to make back the money on ad revenues for NetCenter. The way these revenues are split is heavily weighted towards Excite, at least until Excite has paid off its investment. Whether the investment will ever actually pay off remains to be seen. In spite of its loss, Excite claimed a number of achievements for the quarter, including a ConnectDirect deal with Dell Computer; international partnerships with Telecom Italia and Australian publishing company LibertyOne; an entrance into the web community hosting market; and the appointment of Software.com as Excite’s web-based email provider.

Websites in our network
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
I consent to New Statesman Media Group collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED
THANK YOU