#7. Yahoo Buys GeoCities
An online community of blogs (and more than a few GIFs), the GeoCities network was the third-most-visited website in the world in 1999.
Yahoo spent a pretty penny on acquiring the network, but high costs for all the data behind pictures and pages in an era when servers were much more expensive led to a big bottleneck on profits.
Of course, once Facebook (FB) blew up the old web landscape and easy-to-use platforms like WordPress emerged, Yahoo was forced to wind down GeoCities in the face of more competitive internet stocks. The service was closed at the end of 2009.