Editing LookSmart (section)

=== 1999–2001 ===
By 1999, the company had 500 employees and LookSmart was the twelfth most visited [[website]] worldwide with 10 million users, behind [[AltaVista]] and ahead of Snap.<ref name="enterprise" /> In early-1999, the company reached an agreement to provide directory and listing services for [[Microsoft]] for 5 years. The deal provided the company with $30 million upfront and guaranteed payments of $5 million per year.<ref name="enterprise" /><ref>{{Cite web|url=https://www.cnet.com/news/looksmart-to-fill-msns-search-results/|title=LookSmart to fill MSN's search results|last=Hu|first=Jim|date=8 February 1999|website=CNET|access-date=13 May 2019}}</ref> In late-March 1999, the company raised $59.6 million based on a post-money valuation of $430 million from [[Amerindo Investment Advisors]], Citicorp Equity Capital, Cox Interactive Media, [[Hambrecht & Quist]] and others.<ref name="enterprise" /><ref>{{Cite web|url=https://www.cnet.com/news/short-take-looksmart-gets-60-million-in-financing/|title=Short Take: LookSmart gets $60 million in financing|date=31 March 1999|website=CNET|language=en|access-date=25 March 2019}}</ref> In May 1999, LookSmart formed a strategic partnership with direct-response marketing company [[Guthy-Renker]] and acquired some of their assets from their [[e-commerce]] division for $3 million.<ref>{{Cite web|url=https://www.dmnews.com/customer-experience/news/13100538/looksmart-guthyrenker-partner|title=Looksmart, Guthy-Renker Partner|last=Hamstra|first=Mark|date=21 May 1999|website=DMNews.com|language=en|access-date=19 March 2019}}</ref><ref name=":4">{{Cite web|url=http://getfilings.com/o0001021408-03-004294.html#tx057_7|title=LOOKSMART LTD – 10-K Annual Report – 12/31/2002|access-date=19 March 2019}}</ref> 

On 20 August 1999, during the [[dot-com bubble]], the company became a [[public company]] via an [[initial public offering]] on the [[NASDAQ]], debuting at $12 per share and raising $92.4 million based on a $1 billion valuation for the company.<ref name="enterprise" /><ref>{{cite web | url=https://www.nasdaq.com/markets/ipos/company/looksmart-ltd-9351-5507 | title=LOOKSMART LTD (LOOK) IPO | publisher=[[NASDAQ]]}}</ref> LookSmart used the money it made from its IPO to open offices in [[Denmark]], [[Canada]] and the [[Netherlands]].<ref name=":10" /> By October 1999, the stock price reached $30 per share, giving the company a [[market capitalization]] of $2.5 billion.<ref name=":10">{{cite news | url=https://www.marketwatch.com/story/thom-calandras-stockwatch-looksmart-shares-poised-for-something-but-what | title=LookSmart shares poised for something, but what? | work=[[Marketwatch]] | date=14 October 1999}}</ref> The founders' 15% stake was worth $375 million.<ref name="smart">{{cite news | url=https://www.smh.com.au/articles/2004/01/21/1074360833933.html | title=LookSmart not looking smart | first=James | last=Chessell | work=[[The Sydney Morning Herald]] | date=22 January 2004}}</ref> On 10 November 1999, LookSmart and [[BT Group]] founded [[joint venture]] BT LookSmart.<ref>{{Cite web|url=https://www.bloomberg.com/research//stocks/private/snapshot.asp?privcapId=3768400|title=Company Overview of BT LookSmart|website=[[Bloomberg L.P.]]|access-date=28 April 2019}}</ref><ref>{{Cite web|url=http://www.independent.co.uk/news/business/bt-joins-looksmart-in-pounds-130m-venture-1125114.html|title=BT joins LookSmart in pounds 130m venture|date=11 November 1999|website=The Independent|language=en|access-date=28 April 2019}}</ref> In December 1999, LookSmart purchased [[FutureCorp]] and its free [[email]] service Start for more than $5 million from its co-founders Michael Mak and Bardia Housman.<ref name=":14">{{Cite news|last=|first=|date=March 26, 2002|title=Founders Start again after LookSmart's exit|work=[[The Sydney Morning Herald]]|url=https://www.smh.com.au/articles/2002/03/23/1016843083175.html|url-status=live|access-date=January 10, 2021|archive-url=https://web.archive.org/web/20020607023917/https://www.smh.com.au/articles/2002/03/23/1016843083175.html|archive-date=June 7, 2002}}</ref> Also in December, LookSmart acquired 14.5% of the voting stock of Dstore Pty Ltd. for $300,000.<ref name=":15">{{Cite web|last=|first=|date=2004|title=Report of Independent Registered Public Accounting Firm|url=https://www.sec.gov/Archives/edgar/data/1077866/000119312504214657/dex993.htm|access-date=2021-01-11|website=[[US Securities and Exchange Commission]]}}</ref>

In 2000, [[FindArticles]], a website which provided access to articles previously published in magazines, journals, and other sources, was founded<ref>{{Cite web|url=http://whois.domaintools.com/findarticles.com|title=FindArticles.com WHOIS, DNS, & Domain Info – DomainTools|website=whois.domaintools.com|access-date=16 December 2018}}</ref><ref name="ResourceShelf">{{cite web|url=http://www.resourceshelf.com/2007/11/09/looksmart-sells-findarticles-to-cnet-networks/|title=LookSmart Sells FindArticles to CNET Networks for $20.5 Million in Cash|last1=Price|first1=Gary|last2=Kennedy|first2=Shirl|date=9 November 2007|work=Resource Shelf|archive-url=https://web.archive.org/web/20080623004622/http://www.resourceshelf.com/2007/11/09/looksmart-sells-findarticles-to-cnet-networks/|archive-date=23 June 2008|url-status=dead|accessdate=18 July 2008}}</ref><ref name="BtoB2">{{cite web|url=http://www.btobonline.com/apps/pbcs.dll/article?AID=/20080211/FREE/629265722/1109/FREE|title=Bnet.com branches out: CNET business information site bulks up its content offerings|last=Schwartz|first=Matthew|date=11 February 2008|work=BtoB Online|publisher=BtoB|archive-url=https://web.archive.org/web/20110721090157/http://www.btobonline.com/apps/pbcs.dll/article?AID=%2F20080211%2FFREE%2F629265722%2F1109%2FFREE|archive-date=21 July 2011|url-status=dead|accessdate=18 July 2008}}</ref> as a partnership between LookSmart, which authored the search technology, and the [[Thomson Gale|Gale Group]], which provided the articles for a fee.<ref name="AAI">{{cite web|url=http://www.antitrustinstitute.org/Antitrust_Resources/Cases___Issues_in_the_NEWS/index.ashx|title=Cases and Issues in the News|publisher=American Antitrust Institute|archive-url=https://web.archive.org/web/20080503021903/http://www.antitrustinstitute.org/Antitrust_Resources/Cases___Issues_in_the_NEWS/index.ashx|archive-date=3 May 2008|url-status=dead|accessdate=18 July 2008}}</ref><ref>{{Cite book|title=The Web Library: Building a World Class Personal Library with Free Web Resources|last=Tomaiuolo|first=Nicholas|publisher=Information Today, Inc.|year=2004|isbn=0910965676|pages=[https://archive.org/details/weblibrarybuildi00toma/page/19 19]|url-access=registration|url=https://archive.org/details/weblibrarybuildi00toma/page/19}}</ref><ref>{{Cite web|url=http://www.findarticles.com/cf_0/PI/aboutus/index.jhtml|title=About FindArticles|website=FindArticles.com|archive-url=https://web.archive.org/web/20021002222936/http://www.findarticles.com/cf_0/PI/aboutus/index.jhtml|archive-date=2 October 2002|access-date=15 February 2019}}</ref>

In March 2000, LookSmart's stock price briefly peaked at $72 per share.<ref name=":12" /><ref name=":11">{{cite news|url=https://www.crikey.com.au/2009/01/14/thornley-2-looksmart-share-sell-off-remains-unexplained/|archive-url=https://web.archive.org/web/20091122162130/https://www.crikey.com.au/2009/01/14/thornley-2-looksmart-share-sell-off-remains-unexplained/|url-status=dead|archive-date=22 November 2009|title=Thornley 2: LookSmart share sell-off remains unexplained|last=Schwab|first=Adam|date=14 January 2009|work=[[Crikey]]}}</ref> On 28 March 2000, the [[International Olympic Committee]] (IOC) signed a sponsorship deal with LookSmart by adding a custom-built LookSmart directory to the [[Olympic Games]]' website.<ref>{{Cite news|url=https://www.nytimes.com/2000/03/28/technology/olympicscom-signs-sponsorship-deal.html|title=Olympics.com Signs Sponsorship Deal|date=28 March 2000|work=The New York Times|access-date=1 May 2019|language=en-US|issn=0362-4331}}</ref> On 30 May 2000, [[Juno Online Services]] reached an agreement with LookSmart to provide Juno's subscribers access to LookSmart's directory and LookSmart's stock jumped 8%.<ref>{{Cite web|url=https://www.cnet.com/news/juno-and-looksmart-strike-deal-shares-gain/|title=Juno and LookSmart strike deal, shares gain|date=30 May 2000|website=CNET|language=en|access-date=25 March 2019}}</ref> On 26 July 2000, AltaVista reached an agreement with LookSmart for it to be their exclusive directory provider.<ref>{{Cite web|url=https://www.cnet.com/news/looksmart-pays-portals-to-use-its-service/|title=LookSmart pays portals to use its service|last=Festa|first=Paul|date=26 July 2000|website=CNET|language=en|access-date=25 March 2019}}</ref> In October 2000, the company acquired [[Zeal (web)|Zeal]] for $20 million.<ref name="wise">{{cite news|url=https://www.forbes.com/2000/10/04/1004looksmart.html|title=LookSmart Gets Wise To Value of Volunteers|date=4 October 2000|work=[[Forbes]]}}</ref><ref name="200710K" />

As a result of the dot-com bubble bursting in late 2000, the company fired 172 employees or 31% of its staff in January 2001 to cut costs.<ref>{{cite news | url=https://www.bizjournals.com/sanjose/stories/2001/01/08/daily59.html | title=Layoffs for Looksmart | work=[[American City Business Journals]] | date=12 January 2001}}</ref> Also in January, LookSmart shut down Inside The Web and LookSmart Live! due to them being unrelated to their core business model.<ref name=":4" /> On 17 January 2001, the company reached a deal to provide product categories from its directory to [[Amazon (company)|Amazon]].<ref>{{Cite web|url=https://www.cnet.com/news/looksmart-inks-directory-deal-with-amazon/|title=LookSmart inks directory deal with Amazon|date=17 January 2001|website=CNET|language=en|access-date=25 March 2019}}</ref>

Also after the dot-com bubble burst, LookSmart paid $90,000 to transfer 52.8% of its ownership of FutureCorp back to its founders.<ref name=":14" /><ref name=":15" />