Lycos, Inc. is a search engine and web portal established in 1994. Lycos also encompasses a network of email, webhosting, social networking, and entertainment websites. Lycos is a university spin-off that began as a research project by Michael Loren Mauldin of Carnegie Mellon University's main Pittsburgh campus in 1994. Lycos Inc. was formed with approximately US $2 million ($3.1 million today) in venture capital funding from CMGI. Bob Davis became the CEO and first employee of the new company in 1995. After unsuccessfully attempting to turn the business into a software company selling an enterprise version of the search software, Davis concentrated on building the company into an advertising-supported web portal. Lycos enjoyed several years of growth during the 1990s and became the most visited online destination in the world in 1999, with a global presence in more than 40 countries. In 1996, the company completed the fastest IPO from inception to offering in NASDAQ history.
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