Excite sells its cards as its CFO gets his

Two years and a $750m loss...

Two years and a $750m loss...

Excite@Home has sold its online greetings cards subsidiary BlueMountain.com for just $35m, two years after buying it for $780m. Excite has sold the firm, which allows users to send e-cards over the web, to AmericanGreetings.com, a rival in the online card market. As part of the deal Excite will purchase at least $3m of advertising from the site, and guarantees to continue to promote it as its greetings card vendor of choice on the Excite portal. The sale, despite forcing Excite to write-off over $700m, will give the shaky firm some much needed cash at a time when creditors are getting nervous about the company's future. After admitting in August that it needed more cash in order to survive, Excite's CFO Mark MCEachen resigned on Monday, adding to the firm's woes.