Greece’s “Olympic Shame”
Forbes called this the “Olympic shame.” The Olympic Stadium that Greece built in Athens was designed to host the Olympic Games in 2004. The country splurged billions on Olympics which it couldn’t afford, ending up with a loss of $1.7 billion which the IOC and the IMF refused to help Greece with. The stadium is now abandoned, its seats smashed, and basically everything is cracked, overgrown, and crumbling. It’s unclear if the venue will ever be revived since the Greek government itself and most companies in the struggling country couldn’t afford a very costly cleanup.
Greece’s “Olympic Shame”
Terra Purchases Lycos
Spanish internet company Terra Networks bought web search engine Lycos on May 6, 2000, when the dot-com bubble was nearing its peak. Terra spent $12.5 billion, but in 2001, Lycos abandoned its search engine crawler. Before the bubble crash, Lycos was ranked eighth as the world’s most popular internet site. After three years of loss, Terra sold Lycos for $95.4 million to Daum Communications in 2004. In May of 2018, Lycos was rebranded as “Brightcom Group”.
Terra Purchases Lycos
