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7 October 2003
LookSmart
Loses Microsoft Partnership
LookSmart has
confirmed today that Microsoft has decided not to renew its
distribution and licensing deal with the company.
LookSmart had been providing
Microsoft's search arm MSN with paid search technology that allowed
advertising to be displayed along with search results.
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MSN apparently decided to end its licensing agreement on 15 January 2004.
In response, LookSmart admitted that the loss will adversely affect their
earnings outlook, with the deal previously accounting for 65 percent of
listings revenue and all of their licensing revenue for the second quarter
of 2003. LookSmart shares
dropped sharply at the news.
The deal loss puts in perspective
LookSmart's move this week into the bid-based pay per click market.
But starting out at such a disadvantage will not help them.
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