Lycos snags $12 mil in Bertelsmann funding

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Internet portal Lycos has secured $12 million in financing from its European partner, media giant Bertelsmann. The money will go toward launching a pan-European Tripod, a community site owned by Lycos. The new site will include localized, country-specific versions of Tripod in 12 European countries. Lycos-Bertelsmann already has six Tripod Europe sites up in running for the U.K., France, Germany, Italy, the Netherlands and Spain.

Copyright June 1999, Crain Communications Inc.

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