Overview

The USD$6.7 billion merger of Excite and @Home Network in 1999 became one of the largest mergers of two Internet companies at the time. @Home's high-speed Internet services and existing portal were combined with Excite's search engine and portal, with a move towards personalized web portal content following the merger. The new company was named "Excite@Home" (the stock symbol and the company's name in regulatory filing records remained as "At Home Corporation" (ATHM)). Following the merger, the Excite division purchased iMall, as well as online greeting card company, Blue Mountain Arts. Excite also acquired photo sharing company Webshots. Excite furthermore paid for sponsorship of Infiniti Indy car driver Eddie Cheever, Jr., through the 2000 and 2001 racing seasons. However, the merger between Excite and @Home fell disastrously short of expectations. Online advertising revenue plummeted, while cable network ISP revenue continued to grow. On September 21, 2000, after stock value had dropped 90%, George Bell announced plans to step down as CEO within six months. On April 23, 2001, Excite@Home announced Patti S. Hart, the former CEO of Telocity, would become its third CEO in three years. On October 1, 2001, Excite@Home filed for Chapter 11 bankruptcy protection with the U.S. Bankruptcy Court for the Northern District of California. The company's remaining 1,350 employees were laid off over the following months. Source: Wikipedia