Excite to buy Netbot, reports losses

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Excite announced Oct. 16 that it has made a formal bid to acquire the Netbot shopping service for $35 million of Excite common stock. The search engine has plans to integrate Netbot personalized shopping technology Jango -- which combs multiple commerce sites for bargains -- into the Excite Shopping channel.

Excite also reported losses of $5.7 million for the third quarter. The net loss for same period a year ago was $9.4 million.

Revenues rose to $14.4 million, up 52%.

Copyright October 1997, Crain Communications Inc.

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