ExciteAtHome stock rises on new data
March 22, 2000 05:12 PM
PALO ALTO, Calif., March 22 (Reuters) - Shares in ExciteAtHome Corp ATHM rose more than ten percent at
one point in trading Wednesday, on the strength of new data showing the company grew faster than any other
major Internet portal during the month of February.
Media Metrix reported Tuesday that ExciteAtHome's Internet audience increased to 30.2 million unique visitors in
February, up from 25.4 million in January.
After rallying early in the session, ExciteAtHome shares trimmed their gains to finish up 2-7/16 to 30-3/4.
Media Metrix said Excite got a substantial boost over Valentine's Day from its acquisition of the online greeting
card company Bluemountainarts.com.
Overall, ExciteAtHome was the fifth most visited Internet site in February, behind America Online Inc AOL , Yahoo
Inc YHOO , Microsoft Corp MSFT and Lycos Inc LCOS .
"There have been concerns that Excite was failing to keep pace with the growth rate of some of the other leading
Internet portals," said F. Drake Johnstone, an analyst with Davenport & Co. "Their strategy in buying
Bluemountainarts was to draw more visitors to its site and to drive revenue.
He said that while the acquisition has clearly succeeded in the first goal, it remains to be seen how well Excite will
monetize the increased audience. Bluemountainarts is a free card site, with limited revenue streams from
advertising and commerce. ((andrea.orr@reuters.com, Palo Alto newsroom, (650) 846-5400))
REUTERS |
