Yahoo! shuts down GeoCities
On Tuesday, Yahoo! closed its free web hosting service called GeoCities. GeoCities is known to be one of the company’s most speculated purchase for over three billion dollars that too at the height of the dot-com boom.
In a message at the GeoCities’ websitwe, the California based company announced, “We have enjoyed hosting websites created by Yahoo! users all over the world, and we’re proud of the community you’ve built.”
It further added, “However, we have decided to focus on helping our customers explore and build relationships online in other ways.”
Yahoo! Also announced that the internet search giant is discontinuing its GeoCities service and instead the users can set up their new online homes at its paid web hosting service. This gives them an introductory offer of USD 5 only for the first one year.
The move to shut down GeoCities comes a week after Yahoo! reported that aggressive cost-cutting efforts from the company has helped it triple its net profit despite a 12 per cent decline in revenue in the third quarter.
The internet giant’s net profit saw a rise of more than 244 per cent in the quarter to USD 186 million from 54 million dollars as compared to the figures a year ago.
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