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In 1996, the company completed the fastest initial public offering from inception to offering in NASDAQ history.The remaining Terra half was reacquired by Telefónica.Under new ownership, Lycos began to refocus its strategy.In 2006, Lycos regained ownership of the Lycos trademark from Carnegie Mellon University.During 2006, Lycos introduced several media services, including Lycos Phone which combined video chat, real-time video on demand, and an MP3 player.In 2005, the company moved away from a search-centric portal and toward a community destination for broadband entertainment content.
With a new management team in place, Lycos also began divesting properties that were not core to its new strategy.
Ybrant Digital paid $20 million at signing and there has been a legal dispute over magnitude of the second instalment between Ybrant and Daum.
The legal battle continues over that issue in the US courts.
Near the peak of the internet bubble on May 16, 2000, Lycos announced its intent to be acquired by Terra Networks, the internet arm of the Spanish telecommunications giant Telefónica, for $12.5 billion.
The acquisition price represented a return of nearly 3000 times the company's initial venture capital investment and about 20 times its initial public offering valuation.
In February 2007, Lycos MIX was launched, allowing users to pull video clips from You Tube, Google Video, Yahoo! Lycos MIX also allowed users to create playlists where other users could add video comments and chat in real-time.