December 17, 2003
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LookSmart Ltd., aiming to compensate for the upcoming loss of its largest customer, Microsoft Corp., on Tuesday unveiled a new, integrated product it hopes will give the company a boost in the lucrative and competitive Web search advertising sector.
By Reuters
The new product, LookListings, combines LookSmart's flagship paid-inclusion products that allow users to pay to have more of their Web pages included in Internet searches with its key-word search advertising service launched in October.
LookListings, which will become the company's main product, also enables users to manage their online marketing and advertising campaigns from one place, a company spokeswoman told Reuters.
LookSmart said it is now the third-biggest key word search advertising provider behind privately held Google Inc. and Yahoo Inc. unit Overture Services. But the company was a late comer to the space, well behind Google and Overture, which reap hundreds of millions of dollars in annual revenues from the fast-growing business.
San Francisco-based LookSmart said in October that Microsoft's MSN Internet division would on January 15, 2004, end its distribution and licensing agreement that contributed about two-thirds of LookSmart's revenue.
In a similar vein, LookSmart's agreement with Sprinks, About.com's online contextual advertising unit, is in the process of being terminated after its recent acquisition by Google. The company's contract with Inktomi, which was purchased by Yahoo, is set to expire in February.
Sprinks and Inktomi combined contributed less than 10 percent of LookSmart's revenue in the latest quarter.
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