Daum Aims High With Lycos Deal
By Rafat Ali - Wed 04 Aug 2004 09:09 PM PST
(sub. req.): Analysts are skeptical on Daum’s buyout of Lycos US, but the company is confident..."The acquisition of Lycos is a springboard for Daum to venture into the U.S. market and become a global player,” says Lee Jae Woong, the company’s CEO.
But Korean technology analysts also question Daum, which has never taken over a foreign company, has the strategic and business insights needed to run an international portal. Skeptics also note that Daum will need to invest heavily in marketing if it wants to revive the Lycos brand in the U.S.
Posted in: Companies, Terra Lycos, Asia, Korea
