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Yahoo! to close Geocities

Yahoo! has announced its plans to close down its free web hosting service Geocities that it acquired back in 1999 for an astronomical $4.6 billion. The company promised to reveal their new market strategy, part of which is to acquire new social networking sites to put the company back on track and make their site easier to navigate. In the meantime, Geocities which encourages users to sign up for a paid hosting account at Yahoo!

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