Lycos, Santa Clara, Calif., announced a four-year venture with Autoweb.com, Waltham, Mass., to build and operate an online auto channel serving both consumers and carmakers. Lycos will acquire a 10% stake in AutoWeb, which will make multimillion-dollar payments to Lycos. The deal gives Lycos an instant auto channel and broadens Autoweb's reach. A new site at autoweb.lycos.com went active earlier today. The two will share revenue generated from advertising and e-commerce on the site. Most advertising for the venture is expected to be promotions on the site from Lycos, an Autoweb spokeswoman said.
Copyright April 2000, Crain Communications Inc.