Daums Lycos venture turns out to be ill-fated

By Kang Seung-woo

The dream of overseas expansion for Daum Communications has faltered, as Korea’s second largest portal sold off its U.S. subsidiary.

Daum announced Monday that it has sold Lycos to Ybrant Media Acquisition at $36 million (42.6 billion won).

Lycos is a U.S.-based search engine and draws 16 million visitors on a monthly average, according to Daum.

With the sale of the U.S. search engine and web portal, Daum has finished clearing up its key overseas operations.