Internet media company Yahoo Inc. on Monday said it would buy online advertising provider Overture Services Inc. for $1.63 billion in cash and stock to strengthen Yahoo's ad business and ward off a growing challenge from search engine Google.

It finally happened- Overture was acquired on Monday. I've been telling almost anyone who would listen to buy GoTo Overture since late 2000, but with this I'll be selling the few shares I have left in the company.

Side note, let's walk down memory lane and have a look at FindWhat.com's stock [FWHT], which has been trading with a current market cap towards $440 million. I remember cutting (and ending) my day-trading teeth during freshman year on this stock when it would flicker between $.75 and $1.25, a time when its market cap was definitely below $20 million. FindWhat was always GoTo Overture's weakly sibling, but it looks like their network of independent sites is finally pulling some bling- Q1 of 2003 saw $15,849,000 in revenue, and since computers do the work Cost of Revenue was only $610,000. Gross profit? $15,239,000. Still, FWHT is way over valued- OVER pulled $224,725,000 gross profit in the same quarter.  ¶ Permalink 7/14/2003 11:35:00 PM