Excite buys Classifieds2000

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Excite is buying leading classifieds site Classifieds2000, the search engine company announced April 6. Excite is exchanging 890,000 shares of Excite stock for all the outstanding shares of Classifieds2000, a transaction valued at about $48 million. As a division of Excite, Classifieds2000, will develop deeper relationships with Excite and sister search engine WebCrawler.

Before the buyout, Classifieds2000 had amassed 130 network affiliates, with portal sites including Excite and WebCrawler, and rival search engines Lycos and Infoseek. Classifieds2000 CEO Sani El-Fishawy said these relationships wouldn't change because the classifieds service will be run as an independent division of Excite. "It's business as usual," he said.

In fact, he said the affiliate sites were excited that Classifieds2000 was about to receive a cash infusion. "It provides us with additional resources and wherewithal," Mr. El-Fishawy said. "We're clearly here to stay."

Copyright April 1998, Crain Communications Inc.

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