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Monday, June 6, 2011

Tripod.com - Wikipedia, the free encyclopedia

Tripod.com - Wikipedia, the free encyclopedia: "Although the feature was an afterthought originally, Tripod soon became known as a place where people could create free web pages, competing with the likes of GeoCities and Angelfire.[4] Criticizing AOL, the existing leader in this space, for its walled-garden approach, Peabody described the company's aims: 'Our idea is to build a community through user-created and user-based content.'[5] A Washington Post reviewer recommended Tripod over GeoCities for giving users an easier URL to remember, and because GeoCities sites had a tendency to crash computers.[6]
[edit]Investment and buyout
After receiving an initial investment of $4 million in venture capital, led by New Enterprises Associates, in May 1997 Tripod took an additional round of investment totaling $10 million. By this time the company had grown to 40 employees and was hoping to reach profitability by the 1st quarter of 1998. The second group of investors included Interpublic, which paid $2.5 million for a stake in Tripod estimated at 10 percent, thus implying a valuation of $25 million for the company overall.[1] As it turned out, Tripod would be sold in February 1998 to Lycos for a reported $58 million in stock.[7]"

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