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URLwire for Wednesday, August 8, 2001
|Lycos Launches Russian Search Engine Today|
|Lycos Europe, a joint venture between Terra Lycos (NASDAQ: TRLY) and Bertelsmann, today officially launched in Russia, a move which expands its network to 14 countries with a Moscow office and site at http://ww.lycos.ru|
Since last year, Lycos Europe has been researching Russia's market potential for entry by an experienced European player able to leverage the advantages of a local office. Lycos Europe's studies confirmed that rising patterns in online activity and increase in new Internet users was matched with significant business potential for growth of e-commerce and online advertising. Local teams have been developing Lycos Russia's product offering since April 2001.
``We aim to quickly build brand loyalty
by targeting Russia's vast amount of Internet `newbies', rather than experienced
users,'' says Cuneyt Baltaoglu, Lycos Russia's Managing Director, who heads
the Russian team of 12 Lycos staff. ``We also plan to offer Lycos partner
companies the benefit of our local experience and a valuable entry point
into the Russian market. Moscow has around 10% Internet penetration so
we'll focus our efforts here and on key urban cities where penetration
is fast increasing
Russia's monthly Internet audience
is set to rise from 5.9 million in 2001 to a predicted 9 million users
in 2002 (1). After a successful test period of core services, the Russian
office plans to introduce further adaptations of the complete Lycos offering
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