LookSmart Ranked 2nd Fastest-Growing Public Company in Bay Area; San Francisco Business Times Lists Search-Infrastructure Leader Second Among 150 Bay Area Companies
SAN FRANCISCO--(BUSINESS WIRE)--June 2, 2000--LookSmart (Nasdaq:LOOK), the global leader in Internet search infrastructure, today announced that it has been ranked the second-fastest-growing public company in the Bay Area, according to the May 26 issue of the San Francisco Business Times' "Top 150 Fastest Growing Public Companies in the Bay Area."
The rankings for each company were calculated using fiscal-year revenue and computing percentage growth figures. Based on the San Francisco Business Times calculations, overall revenue growth between mid-1997 and the first quarter of this year at LookSmart was 678 percent, making it the second-fastest-growing public company in the Bay Area. The top 10 rankings were:
1.) Keynote Systems, Inc.
2.) LookSmart, Ltd.
3.) Phone.com, Inc.
4.) At Home Corp.
5.) Digital Island, Inc.
6.) Mediaplex, Inc.
7.) Maxygen, Inc.
8.) OnDisplay, Inc.
9.) KeraVision, Inc.
10.) iManage, Inc.
LookSmart achieved its number-two ranking because of consistently increasing revenues:
- 1997 $0.95 million
- 1998 $8.79 million
- 1999 $48.87 million
Merrill Lynch analysts Sofia Ghachem and Henry Blodgett, who launched coverage on LookSmart last week, estimate that LookSmart will achieve revenues of $114.66 million in 2000.
"We're pleased to be named the second-fastest-growing public company in the Bay Area, which is recognized as the global hotbed for technology," said Ned Brody, chief financial officer at LookSmart. "LookSmart has experienced tremendous growth over the last couple of years, and we have emerged as a clear leader in the Internet infrastructure space. In addition to growing revenues, LookSmart's model is scaling quickly and we are on a clear road to profitability. We expect to reach operating profit by the second quarter of 2001." About LookSmart
LookSmart is the global leader in Internet search infrastructure, dedicated to helping the world find useful information quickly. LookSmart's search service reaches over 52 million people a month through LookSmart's Web properties and partner sites. The company provides its search solutions to leading Internet portals, ISPs and Web sites including Microsoft's MSN, Netscape Netcenter, Time Warner, Excite@Home, Sony, BT, Road Runner, Prodigy, US West, AltaVista, NetZero, over 370 Internet service providers and thousands of Web sites. LookSmart's search solutions include a collection of over 1.8 million high-quality URLs organized into more than 170,000 categories. LookSmart has built Web directories for 30 countries, including the United States, United Kingdom, Canada, Australia, Japan, Korea, Mexico and Brazil. 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. LookSmart is the official search-infrastructure provider for www.Olympics.com, the official Web site of the Sydney 2000 Olympic Games. The company is headquartered in San Francisco and can be contacted at 415/348-7000.
CONTACT: LookSmart, San Francisco
Liz Connaghan, 415/348-7185
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