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Technology Stocks : Lycos -- Ignore unavailable to you. Want to Upgrade?

To: KENNETH DOAN who wrote (2207)	7/1/1999 5:50:00 PM
From: puborectalis	Read Replies (1) \| Respond to of 2439

Lycos' big new bank account Internet Daily By Frank Barnako, CBS MarketWatch Lycos said an agreement with WingspanBank.com will let its users access checking accounts, pay bills online, apply for loans and manage their investments. The deal could also generate $135 million in revenue to Lycos (LCOS) if enough customers use the services, the company said. "We think online banking is going to be an indispensable part of the modern lifestyle," said Lycos President Bob Davis. WingspanBank is Bank One's (ONE) new online bank. Lycos also said it completed its acquisition of Wired Digital Inc., the owner of search engine HotBot and content sites including Wired News and Suck.com. Beth Vanderslice, president of Wired Digital, will now serve as a Lycos vice president and general manger. CNet, Yahoo ramp up ad initiatives Advertising spending is set to swell on the Internet led by Net companies. CNet (CNET) revealed plans to spend over $100 million on marketing its brand over the next 18 months, an effort that will force it to report a loss for the next two quarters. Meanwhile, Yahoo (YHOO) trumpeted an expanded marketing relationship with Procter & Gamble (PG), one of the nation's biggest ad spenders. "Certainly, it sounds like another ad deal that could add to Yahoo's revenue," said Daniel King, analyst at LaSalle St. Securities in Chicago, adding that "whenever you have a large mainstream advertiser move more spending online that's going to be good for a wide-range of Internet companies." CNet said it's spending the cash to "establish CNet as the one place to go for computer and technology information."