SAN FRANCISCO--(BUSINESS WIRE)--Feb. 16, 2000--LookSmart (Nasdaq: LOOK), a global leader of Internet search infrastructure, today announced that it has applied for clearance to list a proportion of its stock on the Australian Stock Exchange (ASX). If approved, the listing of LookSmart on the ASX will provide increased access to local markets for LookSmart's Australian investors and employees. The shares initially available on the ASX will come from LookSmart's existing shareholder base as opposed to primary shares being issued by the Company.
"We know there is strong Australian institutional and retail demand for both the global Internet sector and for LookSmart in particular, given our heritage, leadership position, and local operating presence," said Evan Thornley, CEO of LookSmart. "We expect the listing to provide LookSmart greater exposure in the international investment community and an opportunity for Australian investors to take a significant position in the Company as new supply of stock becomes available."
LookSmart is a global leader of Internet search infrastructure, headquartered in San Francisco, with international operations based in Sydney. Founded in 1995 in Australia, LookSmart counts some of Australia's leading institutions as early investors. LookSmart also has offices around the world in New York, Montreal, London, Amsterdam, Berlin, Copenhagen, and Melbourne. The strong local presence in these markets allows LookSmart to build the culturally sensitive and highly integrated search products necessary to be the leading search infrastructure company globally. The extent of LookSmart's global presence can be seen through its 25 country products. The Company plans to continue to leverage its US domestic success to invest in its international markets.
"Clearly the majority of LookSmart shares will remain in the US," said Thornley. "As a global Internet search infrastructure company, we're pleased to be listed on the Australian stock exchange and offer Australian institutions the opportunity to participate in the success of LookSmart."
LookSmart (Nasdaq: LOOK) is a global leader of Internet search infrastructure, dedicated to helping the world find useful stuff quickly. LookSmart's search and directory service reaches over 45 million people a month -- nearly 70 percent of all Internet users in the U.S. -- through LookSmart's partner sites. LookSmart has launched web sites for the U.S., the UK, Canada, Australia, the Netherlands, Singapore, Malaysia, and New Zealand, and built directories for 17 countries, including, Japan, Korea, Mexico, and Brazil.
LookSmart's search solutions include a collection of over 1.5 million high quality URLs organized into more than 100,000 categories. LookSmart currently provides its search solutions to leading Internet portals, ISPs and Web sites including The Microsoft Network, Time Warner Inc., Excite@Home, Sony, British Telecom, US West, AltaVista, Netscape Netcenter, NetZero, over 370 Internet Service Providers, and 600,000 Web sites.
Through its partnership with Cox Interactive Media, LookSmart also offers one of the largest collections of quality local Web content in more than 70 U.S. markets. The company is headquartered in San Francisco and can be contacted at (415) 348-7000 or visited at www.looksmart.com.
FOR IMMEDIATE RELEASE
Liz Connaghan, 415/348-7185