LookSmart Introduces New Performance-Based Product to Meet the Needs of Small Businesses
Small Business Listings to Provide Online Merchants with Increased Traffic, Improved Conversion Potential, Efficient Performance-Based Pricing
SAN FRANCISCO, April 10, 2002 - LookSmart (Nasdaq: LOOK, ASX: LOK), a global leader in search targeted marketing, today announced a new offering designed to enhance the Company`s popular LookListingsTM Small Business suite. The new product, called Small Business Listings, provides cost-effective customer acquisition by enabling small businesses to be included in the LookSmart directory and receive qualified leads to their Web sites, paying for the traffic on an efficient per-click basis. The new product allows budget-conscious advertisers to carefully control their spending without requiring them to buy keywords or participate in an auction, and provides LookSmart with recurring revenue from small business customers.
With Small Business Listings, merchants will be able to promote their Web sites in searches across LookSmart`s entire distribution network of affiliate partners, which includes Microsoft`s MSN, AltaVista, Netscape, Ask Jeeves, InfoSpace, Prodigy and Juno. LookSmart provides a high quality, professionally edited layer of commercial and noncommercial search results on portals, ISPs and search engines. LookSmart includes non-commercial sites in its directory free of charge.
"This initiative allows us to provide a better directory by having an active, ongoing relationship with each commercial site," said Jason Kellerman, chief operating officer for LookSmart. "When a small business pays by the click for the leads they receive, they take an active interest in making sure their listing is accurate and the information is up-to-date. LookListings Small Business lets us align the interests of the advertiser with those of the user, creating a rewarding search experience."
Small Business Listings is the latest addition to LookListingsTM Small Business, a suite of products and services that enable online businesses to promote their Web sites across the LookSmart Network, reaching an audience of 81 million* unique users each month. Current LookSmart Submit and Site Promote customers will automatically be upgraded to the new Small Business Listings product. In addition, these customers will receive a generous supply of free clicks for each listing in their account. *Media Metrix November 2001 Digital Media Audience Ratings
About LookSmart
LookSmart helps more than 80,000 customers harness the power of Search Targeted Marketing to generate qualified leads. LookSmart commercial search listings enable customers to reach 77 percent* or nearly four out of five U.S. Internet users, through top portals and ISPs including Microsoft`s MSN, AltaVista, Netscape Netcenter, Prodigy, Juno, CNN.com, Road Runner, Cox Interactive Media, InfoSpace (Go2Net, Dogpile, MetaCrawler), CNET`s Search.com, Ask Jeeves and search services such as Inktomi. As publisher of the world`s most widely distributed search directory, LookSmart is the only company that provides both pay-for-placement and paid inclusion search listing platforms, to meet the needs of small and large advertisers alike. BTLookSmart, LookSmart`s joint venture with BT, deploys LookSmart directories and provides Search Targeted Marketing solutions in the U.K., France and Asia-Pacific. LookSmart is based in San Francisco, California, with offices in Los Angeles, New York, Detroit, Montreal, London, Melbourne and Sydney. For more information, please visit www.LookSmart.com
*Media Metrix November 2001 Digital Media Audience Ratings
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding LookSmart`s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company`s Annual Report or Form 10-K for the most recently ended fiscal year.
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