55 lines
1.9 KiB
Markdown
55 lines
1.9 KiB
Markdown
---
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created_at: '2013-05-20T17:58:12.000Z'
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title: Yahoo buys Viaweb for $49 million (1998)
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url: http://news.cnet.com/Yahoo-buys-Viaweb-for-49-million/2100-1001_3-212001.html
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author: ig1
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points: 106
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story_text: ''
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comment_text:
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num_comments: 52
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story_id:
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story_title:
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story_url:
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parent_id:
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created_at_i: 1369072692
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_tags:
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- story
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- author_ig1
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- story_5738969
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objectID: '5738969'
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year: 1998
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---
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[Yahoo](http://www.yahoo.com/) is doing some e-purchasing to move deeper
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into the e-commerce industry.
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The Net portal firm today plopped down $49 million for Cambridge,
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Massachusetts-based [Viaweb](http://www.viaweb.com/), a maker of tools
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for building and operating Internet commerce Web sites.
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Yahoo executives said the acquisition is meant to bolster the company's
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push into the e-commerce services industry. The Santa Clara,
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California-based firm wants to be a services company building,
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promoting, and operating online storefronts for small and medium-sized
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businesses.
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Internet-based selling is expected to quadruple in the next few years
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from $2.4 billion last year to $12.1 billion by 2000, according to
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[Forrester Research](http://www.forrester.com/).
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These figures have lured industry giants [Netscape
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Communications](http://www.netscape.com/) and
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[Microsoft](http://www.microsoft.com/) as well as
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[SAP](http://www.sap.com/) and [Intel](http://www.intel.com/)--with
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their joint venture [Pandesic](http://www.pandesic.com/)--to the
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e-commerce business.
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Yahoo already offers promotional and marketing services to businesses.
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With the Viaweb purchase, it hopes to up its offering to include set-up
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and design services, hosting, and promotional services through [Yahoo
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Store.](http://store.yahoo.com/)
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The acquisition is expected to be completed in June pending stockholder
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and regulatory approval. Yahoo executives said the purchase will result
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in a $45 million one-time hit in its second quarter.
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