Excite also acquired photo sharing company Webshots. However, the merger between Excite and Home fell disastrously short of expectations. Online advertising revenue plummeted, while cable network ISP revenue continued to grow. In the same announcement, George Bell resigned and left the company completely. The search engine Magellan, which Excite had purchased in , was closed down in May The loan, structured as a note convertible into shares of Excite, had an interest rate of zero.
Furthermore, Cox Cable and Comcast announced that they would separate from Excite Home by the first quarter of Bankruptcy Court for the Northern District of California. The company's remaining 1, employees were laid off over the following months. Home Liquidating Trust became the successor company to Excite Home, charged with the sale of all assets of the former company. Despite the financial problems, the Excite network of sites continued to draw many visitors in the U. During the collapse of Excite Home, iWon. On November 28, , the court accepted the bid and gave iWon less than three weeks to launch a new Excite portal.
Bill Daugherty, iWon's founder and co-chief executive at the time, told The New York Times , "I feel like a guy who lived through a hurricane, got pounded and pounded and managed to survive when everyone else was destroyed. Suddenly you walk outside and because of the storm you have beachfront property.
That's what Excite is to us. On December 16, , iWon launched the new Excite portal and transferred millions of Excite users to its new home. InfoSpace, for its part, owned and operated the web search function on Excite, with Excite's own database now depreciated and instead using Overture and Inktomi search results, along with DMOZ Open Directory for the directory and Dogpile metasearch for news results.
Ask Jeeves promised to rejuvenate iWon and Excite, but was not able to. Ask Jeeves management became distracted, according to the East Bay Business Times , first by a search feature arms race with Google and Yahoo! On May 20, , Ask Jeeves made two announcements regarding the rejuvenation of the Excite brand.
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It first announced that it had acquired Excite Italia B. Excite has never managed to recover back to its heyday popularity.
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