This time, it's the Barbarians at the Web; Zapata makes surprise bid for search firm
Article Abstract:
Zapata offered to acquire Web search company Excite for $1.7 billion, or $72 a share that would be paid in newly issued Zapata stock. Excite summarily dismissed the bid without consulting its board, despite the company's market capitalization of only $240.4 million. An Excite news release said the Zapata move amounted to a purchase request, which Excite declined. Zapata, which currently sells fish protein and sausage casing, has changed its line of business several times since George Bush co-founded it as an oil company in 1953. Since the 1980s, Zapata's business has spanned commercial fishing, natural gas and the restaurants and food service businesses it operates in 1998. The company's shift to the Internet business began in Apr 1998, when it obtained the defunct Web publications Charged and Word from CMT for $2 million.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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This time, it's the barbarians at the Web: Zapata makes surprise bid for search firm
Article Abstract:
Founded in 1953 as an oil company, Malcolm I. Glazer took control of Houston-based Zapata Corp. in 1994, and started divesting its oil interests and moved into restaurants and food service. Shortly afterward, he acquired the Tampa Bay Buccaneers followed by fish oil and sausage casings. Now the company is setting its sights on becoming one of the important Internet companies of the world, which explains its $1.7 billion bid for Excite of Redwood City, Calif. No one at Excite, however, is taking Mr. Glazer seriously.
Comment:
Fish-oil co. based in Houston made bid for Calif.-based Excite after acquiring two small Web pubs that have failed already
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Search engine springs from high-tech games
Article Abstract:
10-K Wizard Technology L.L.C. was started by Kee Kimbell and Martin Zacaries. Both are former employees of Ion Storm, maker of the games 'Doom' and 'Quake.' To showcase their search technology, 10-K Wizard has put up a Web site. Users a way to search the SEC's Edgar database of disclosure filings by publicly held companies. The two began their business with $600,000 in capital. They seek other applications for the search software they've developed.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
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