Exclusive Directory Deal in Europe Will Serve 10 Million Users; Integration of LookSmart's High-Quality Directory Into AltaVista's Search Index
SAN FRANCISCO--(BUSINESS WIRE)--Nov. 21, 2000-- Strengthening its relationship with AltaVista, the leading search and information marketplace for consumers and businesses, LookSmart, (Nasdaq:LOOK), the global leader in Web directories, today announced that is has been chosen to provide the exclusive directory for AltaVista Europe. LookSmart has also extended its relationship with AltaVista in the United States, and will integrate its directory listings into AltaVista's search index.
BTLookSmart, LookSmart's global joint venture with BT, will become the exclusive Web directory for AltaVista United Kingdom, Germany, France, Sweden, Spain, Italy and the Netherlands, which together are used by more than 10 million Europeans. LookSmart will also provide its popular Express Submit and Subsite Listings products to businesses wanting to be found on the top-ranked European search engine.
Separately, the LookSmart directory listings will be integrated into AltaVista's search index in the United States, which performs an average of 50 million search queries per day. AltaVista users will have direct access to handpicked sites that have been categorized, based on their overall value to search queries. AltaVista's search algorithms will continue an objective assessment of how results are surfaced, based on overall site relevance.
"We are excited for our worldwide users to gain access to LookSmart's handpicked, high quality directory results and services," said Jeff Housenbold, vice president and general manager, Products and Marketing, AltaVista Company.
AltaVista will continue to offer LookSmart Express Submit, which enables businesses to have their Websites reviewed for inclusion in the LookSmart directory within 48 hours of submission, and Subsite Listings, which enable companies to provide direct paths from the AltaVista search results page to content deep within their site.
"Our expanded U.S. relationship and new global agreement with AltaVista underscore the commitment both companies share to providing the highest quality user experience, and recognizing the implicit value of search," said Evan Thornley, chairman and CEO of LookSmart.
Founded in Australia and headquartered in San Francisco, LookSmart has offices on 3 continents in 11 cities, including Amsterdam, Berlin, Chicago, Copenhagen, London, Melbourne, Montreal, New York, Paris and Sydney. With 250 professional editors creating directories in 13 languages for 28 countries, LookSmart is rapidly expanding its international presence, committed to partnering with market leaders around the world to meet the demands of the world's Internet users. About LookSmart
LookSmart (Nasdaq: LOOK, ASX: LOK) is the global leader in Web directories. With 31 directories spanning 28 countries, and 13 languages, LookSmart is committed to organizing the Web. LookSmart distributes its databases to a vast network that currently reaches more than 64 million US Internet users through over 400 partnerships including Microsoft's MSN, Netscape Netcenter, AltaVista, Excite, iWon, Time Warner, Sony, Prodigy, Macromedia, Road Runner, Cox Interactive Media and Qwest. About BTLookSmart
BTLookSmart is the global joint venture between LookSmart (NASDAQ: LOOK; ASX: LOK), the global leader in Web directories, and British Telecommunications (NYSE: BTY), the global telecommunications provider with presence in more than 100 markets worldwide. BTLookSmart is deploying LookSmart's Web, WAP, mobile Internet and broadband search and directory solutions for ISPs, portals and mobile Internet businesses in 26 countries across Europe and Asia-Pacific. The company operates two regional headquarters in Sydney, Australia and London, UK, serving the Asia Pacific and European markets respectively. For further information please visit www.BTLookSmart.com. Forward-Looking Statements
This press release contains forward-looking statements based on our current expectations and projections about our industry and our management's beliefs and assumptions. Words such as "will," "expects," "intends," "plans," "believes," "may," and variations of these words or similar expressions are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These statements are not guarantees of future performance and are subject to risks and uncertainties. Our actual results could differ from those expressed in these forward-looking statements for various reasons, such as the possibility that AltaVista users will not utilize our directory or listings services at projected rates; the potential failure to establish an effective working relationship with AltaVista and our other partners; our potential inability to aggregate a large amount of Internet traffic from the AltaVista sites and monetize that traffic through advertising, listings and other revenue streams; the potential inability to generate sufficient listings and advertising revenue to reach profitability; and other risks outlined in our annual report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission.
Kathryn Shantz, 415/348-7104