InfoSpace
From Wikipedia, the free encyclopedia
 |
|
| Type | Public Corporation (NASDAQ: INSP) |
|---|---|
| Founded | March 1996 |
| Founder | Naveen Jain |
| Headquarters | Bellevue, Washington, USA |
| Key people | Jim Voelker (Chairman, President, and CEO) |
| Services | metasearch and private label Internet search |
| Revenue | $140.5 million for FY2007[1] |
| Website | http://www.infospaceinc.com/ |
Infospace (NASDAQ: INSP), a dot com pioneer, provides metasearch and private-label Internet search services for consumers and businesses.[2].
InfoSpace's flagship metasearch sites is Dogpile; its other consumer brands are WebCrawler, MetaCrawler, and WebFetch.[2]
[edit] History
InfoSpace was founded in March 1996 by Naveen Jain after he left Microsoft as a senior executive of MSN. The company, starting with only six employees, built an online yellow pages service to be funded through advertising. Naveen Jain stayed on as its CEO until December 2002, when he left to start online information commerce company Intelius.
Infospace went public on December 15, 1998 closing up $5 at $20 a share (ticker INSP). The company raised $75 million in the offering.[3]
Infospace stock price, which reached $1,305 in March 2000[4], crashed down to just $2.67 by June 2002.[5]. Microsoft co-founder Paul Allen lost an estimated $400 million during the bursting of the dot-com bubble.[5]
Also in 2000, Infospace used a controversial accounting method to report $46 million in profits when in fact it had lost $282 million according to the U.S. Securities and Exchange Commission.[6]
In 2003, InfoSpace acquired Moviso[7] from Vivendi Universal Net USA. Moviso provides ringtones, wallpapers, and video games, usually accessed through a mobile handset enabling wireless carriers to charge a fee for these downloads.
In 2004, InfoSpace acquired Switchboard. It also moved into the mobile games space, acquiring Atlas Mobile, IOMO and elkware.[8]
[edit] Dismantling of company
Industry analysts believe InfoSpace is gradually dismantling itself.[9]
September 2006 InfoSpace released news[10] that a carrier partner would be working directly with major recording labels thus negatively impacting their core business. Following this carrier/label arrangement, InfoSpace sold the Moviso mobile content business to FunMobility, Atlas Mobile studio to Twistbox [11] and IOMO re-emerged as FinBlade[12] The remaining portions of InfoSpace Mobile were acquired by Motricity in December 2007.
Between May 2007 and January 2008, the company paid shareholders $500 million in special dividends, or $15.30/share.[9][1]
[edit] References
- ^ a b InfoSpace Announces Fourth Quarter and Full Year 2007 Results from the InfoSpace investor's website
- ^ a b Our Story from InfoSpace's website
- ^ A Fine IPO for InfoSpace from Wired
- ^ http://seattletimes.nwsource.com/art/news/business/infospace/infospaceTimelineDay1_2_intro.swf
- ^ a b "Dot-con job: How InfoSpace took its investors for a ride: Business & Technology: The Seattle Times". Retrieved on 2008-03-02.
- ^ "When times got tough, execs hid troubles, dumped stock". The Seattle Times. Retrieved on 2008-03-02.
- ^ InfoSpace Acquires Moviso on EContentMag.com
- ^ Infospace Emerges as New Force in International Mobile Games Market at 3GSM - Mobile Game Developer Magazine
- ^ a b "Once an Internet Giant, InfoSpace Dismantles Itself". The New York Times (2008-06-23). Retrieved on 2008-07-01.
- ^ Form 8-K from the U.S. Securities and Exchange Commission website
- ^ Twistbox snaps up Infospace studio from www.mobile-ent.biz
- ^ FinBlade opens its doors from www.mobile-ent.biz
