After a life at warp speed, Netscape logs off
Article Abstract:
Netscape's meteoric rise and fall reflects the rapidly changing Internet industry. An ongoing attack by Microsoft on its Web browser software, coupled with the increasing need for Web-based companies to expand, forced Netscape to sell to America Online in late Nov 1998. The fiercely independent Netscape, founded in 1994, transformed itself into a powerhouse with more than $500 million in revenue by 1997. This record growth for a software company stemmed from Netscape's decision to charge for its Web browser, after initially providing it at no cost. Netscape CEO James Barksdale's subsequent attempts to dissuade online users from choosing rival Microsoft's browser failed by the end of 1997. Microsoft by that time had slashed Netscape's browser share by nearly 50%, using tactics that sparked the current antitrust trial prosecuted by the Department of Justice.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Learning Co. agrees to buy Broderbund
Article Abstract:
Learning Co agrees to buy Broderbund Software in a stock deal valued at approximately $416 million. Learning will issue 0.8 shares of its common stock for each Broderbund share, which amounts to about $19.90 per share. If the acquisition is approved, it will be Learning Co's 14th since 1994. Learning will become the industry's leader, controlling 40% of the $500 million retail market for educational software. It will also be strongly positioned in the market for productivity software. When the news was released, Learning's stock dropped 10.9375 cents to $27.8906 on the New York Stock Exchange. Broderbund's stock increased 14%, or $2.25, to $18.75 on the Nasdaq exchange.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Comment about this article or add new information about this topic:
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