More info on GCTY from CBS Marketwatch this morning...
DALLAS (CBS.MW) -- While nearly every Internet content company is trying to develop the ultimate portal site, IPO hopeful GeoCities has come up with a concept that sounds even more compelling: Home.
In less than three years, GeoCities has created an online community approaching 2 million members, according to the company's prospectus. The members, or Homesteaders as they're called, create their own Web pages in one of GeoCities' 40 thematically organized neighborhoods. (People still brave enough to call themselves liberals, for instance, would likely set up shop on one of the blocks in the politically active Capitol Hill neighborhood).
According to Ryan Jacob, research director of IPO Value Monitor and portfolio manager of The Internet Fund, dozens of other Internet companies would kill for the kind of loyal relationships GeoCities has with its users. "They have a cult following, and with that type of loyalty, that's why I'm excited about their growth prospects," said Jacob, whose fund's biggest holding is CMG Information Services (CMGI), the largest shareholder in GeoCities. "They're starting with such a strong base. Nobody's even a close second. And that first mover advantage is critical on the Internet."
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