AltaVista Acquires Investor and Financial Community Raging Bull
Posted on November 29, 1999AltaVista Company, a majority-owned operating company of CMGI, Inc., announced it has agreed to acquire Raging Bull, an online investor and financial community. Raging Bull has more than 1.7 million unique users who participate in almost 10,000 dynamic discussion boards. AltaVista will acquire Raging Bull through a stock-for-stock exchange of the privately held shares of each company.
"We are thrilled to cement this relationship with AltaVista, a site that has quickly become one of the fastest growing and most recognized consumer destinations on the Internet," said Stephen Killeen, Raging Bull's president and CEO. "We believe the combination of both companies will supercharge AltaVista's already meteoric growth and provide users the best one-stop resource for financial content, community and discussion on the Internet."
Raging Bull will simultaneously maintain its Ragingbull.com site while fully integrating its complete content offering into the AltaVista Live! Money channel, which is the first channel to debut on the recently unveiled AltaVista Network. AltaVista Live! Money is designed to provide access to services and information from business news and financial sources, such as Reuters, CBS MarketWatch, Business Wire, PR Newswire, Edgar Online, Zacks Investment Research, Hoover's, Individual Investor Online, Briefing.com, and ON24.