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Yahoo! Auctions' Woes Suggest Gavel Is About to Come Down on Napster
The bad news for Yahoo! (YHOO) could turn out even worse for Napster.
That's an unsettling implication of statistics circulating this week indicating that Yahoo!'s auctions have been decimated by fees introduced last month. The falloff in listings on Yahoo! Auctions, not suffered by auction leader eBay (EBAY), illustrates the challenges that Yahoo! faces in its attempt to sell new services to users and to diversify its revenue stream beyond the advertising dollars upon which it is so dependent. In addition, the decline looks to be a bad omen for the privately held Napster, which hopes to transform its immensely popular, free, file-trading community into one that at least a fraction of its users will stomach paying for. Yahoo! closed at $28.50 on Wednesday, up $1.38. The stock is down 5% for the year, following 2000's monumental 86% plunge.| Going, Going, Gone? Simultaneous auctions slide at Yahoo! (left scale), rise at eBay |
| Source: Rick Gagliano, www.dtmagazine.com |
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