"As part of Yahoo!'s ongoing effort to build products and services that deliver the best possible experiences for consumers and results for advertisers, we are increasing investment in some areas while scaling back in others," said the internet giant in an email to the news agencies.
Founded in 1994 as Beverly Hill Internet, GeoCities is a web hosting service bought by Yahoo! for about $3 billion during the dotcom boom in Silicon Valley. It provided customers with tools to build interactive websites and eventually added chat forums and other community oriented features.