InfoSpace

The company was founded in March 1996 by Naveen Jain after he left Microsoft. The company started with six employees, and Jain was CEO until 2000. InfoSpace provided content and services, such as phone directories, maps, games and information on the stock market, to websites and mobile device manufacturers.{{cite news|title=Options, Equity, Rancor|first=Edward|last=Welles|url=http://www.inc.com/magazine/20010701/22958.html|newspaper=Inc. Magazine|access-date=March 25, 2015|date=July 1, 2001}} The company grew at low cost without funding using co-branding strategies. Rather than try to get traffic to an InfoSpace website, sites like Lycos, Excite and Playboy embedded InfoSpace's features and content into their site and added an InfoSpace icon to it. InfoSpace then earned money by taking a small percentage of licensing, subscription or advertising fees.{{cite web|url=http://www.redherring.com/mag/issue44/jain.html|archive-url=https://web.archive.org/web/20020219205103/http://www.redherring.com/mag/issue44/jain.html|archive-date=2002-02-19|title=Smarter than Bill|publisher=Red Herring|date=June 30, 1997|access-date=June 7, 2011}} On December 15, 1998, InfoSpace went public under the ticker INSP, raising $75 million in the offering.[https://archive.today/20120919055524/http://www.wired.com/news/business/0,16842-0.html A Fine IPO for InfoSpace] from Wired

By April 2000, InfoSpace was working with 1,500 websites, 60 content providers and 20 telecommunications companies. InfoSpace was praised by Wall Street analysts and at its peak its market cap was $31 billion. It became the largest internet business in the American Northwest.{{cite news|url=http://seattletimes.nwsource.com/html/businesstechnology/2002198103_dotcon1main06.html|title=Dot-con Job: Part 1: Dubious Deals|publisher=The Seattle Times|date=March 8, 2005|access-date=June 7, 2011|first1=David|last1=Heath}} InfoSpace may have contributed to the inflated expectations in internet companies during the height of the dot-com bubble. In July 2000, InfoSpace acquired Go2Net. After the merger, Go2Net CEO Russell Horowitz became president of InfoSpace.[http://news.cnet.com/2100-1023-243697.html InfoSpace to buy Go2Net to expand content delivery] The same year, InfoSpace used a controversial accounting method to report $46 million in profits when in fact it had lost $282 million. Company executives skirted SEC trading restrictions to sell large blocks of their personal stock.{{cite news |url=http://seattletimes.nwsource.com/html/businesstechnology/2002199042_dotcon2main07.html |title=Dot-Con Job — Part 2: Cashing Out — When times got tough, execs hid troubles, dumped stock |access-date=September 13, 2013 |publisher=The Seattle Times | first1=David | last1=Heath | date=March 7, 2005}}

Jain resumed the role of CEO in 2001,{{cite web|url=http://pdf.secdatabase.com/2235/0001032210-01-000078.pdf |title=INFOSPACE INC, Form 8-K, Current Report, Filing Date Jan 23, 2001 |publisher=secdatabase.com |access-date =May 15, 2018}} but was soon forced out by InfoSpace's board in December 2002.{{cite web|url=http://www.bizjournals.com/seattle/stories/2003/04/28/daily5.html|title=InfoSpace severs final ties with founder Jain|publisher=Puget Sound Business Journal|date=April 28, 2003|access-date=June 7, 2011}} By June 2002, the company's stock price, which reached $1,305 in March 2000,[http://seattletimes.nwsource.com/art/news/business/infospace/infospaceTimelineDay1_2_intro.swf The two faces of InfoSpace, 1998–2001] had dropped sharply to $2.67.{{cite news |url=http://seattletimes.nwsource.com/html/businesstechnology/2002198103_dotcon1main06.html |title=Dot-Con Job — Part 1: Dubious Deals — How InfoSpace took its investors for a ride: Business & Technology: The Seattle Times |access-date=September 13, 2013 | first1=David | last1=Heath | date=March 6, 2005}}

In December 2002, Jim Voelker assumed Jain's role as chairman, CEO and President of InfoSpace.{{cite web|url=https://www.cnet.com/news/infospace-names-new-president-ceo/|title=InfoSpace names new president, CEO|last=Kane|first=Margaret|date=December 23, 2002|publisher=CNET|access-date=November 28, 2018}} Voelker shut down or sold many of InfoSpace's 12 businesses to focus on five core segments.{{cite web|url=https://www.seattletimes.com/business/new-management-tighter-focus-finally-put-infospace-in-the-black/|title=New management, tighter focus finally put InfoSpace in the black|last1=Heath|first1=David|last2=Chan|first2=Sharon Pian|author-link=Sharon Chan (journalist) |date=March 8, 2005|work=The Seattle Times|access-date=November 28, 2018}} In 2003, InfoSpace acquired Moviso from Vivendi Universal Net USA.{{cite web|url=https://www.wsj.com/articles/SB106675333736088600|title=InfoSpace to Acquire Moviso|date=October 21, 2003|work=The Wall Street Journal|access-date=November 28, 2018}} In early March 2003, InfoSpace sued Jain alleging he violated non-compete agreements in his role at newly founded Intelius.{{cite web|url=https://economictimes.indiatimes.com/infospace-sues-ex-ceo-naveen-jain/articleshow/39981535.cms|title=InfoSpace sues ex-CEO Naveen Jain|date=March 12, 2003|work=The Economic Times|access-date=November 28, 2018|archive-date=November 30, 2018|archive-url=https://web.archive.org/web/20181130031808/https://economictimes.indiatimes.com/infospace-sues-ex-ceo-naveen-jain/articleshow/39981535.cms|url-status=dead}} In April 2003, Jain resigned from the InfoSpace board.{{cite web|url=https://www.wsj.com/articles/SB105153722450985000|title=Ex-InfoSpace CEO Jain Steps Down From Board|date=April 28, 2003|work=The Wall Street Journal|access-date=November 28, 2018}}

In 2004, InfoSpace acquired online yellow pages service Switchboard.{{cite web|url=https://www.wsj.com/articles/SB108031135882566382|title=InfoSpace Agrees to Acquire Switchboard for $160 Million|last=Saranow|first=Jennifer|date=March 26, 2004|work=The Wall Street Journal Online|access-date=November 28, 2018}} It also moved into the mobile games space, acquiring Atlas Mobile, IOMO and Elkware.{{cite web|url=https://www.gamedeveloper.com/game-platforms/infospace-mobile-acquires-atlas|title=InfoSpace Mobile Acquires Atlas|last=Duffy|first=Jill|date=July 1, 2004|work=Gamasutra|access-date=November 28, 2018}}{{cite web|url=https://www.gamesindustry.biz/articles/more-mobile-consolidation-as-infospace-buys-iomo|title=More mobile consolidation as InfoSpace buys IOMO|last=Fahey|first=Rob|date=December 2, 2004|work=GamesIndustry.biz|access-date=November 28, 2018}}{{cite web|url=https://www.gamesindustry.biz/articles/infospace-signs-agreement-to-acquire-mobile-games-company-elkware-gmbh|title=InfoSpace Signs Agreement to Acquire Mobile Games Company Elkware GmbH|date=December 16, 2004|work=GamesIndustry.biz|access-date=November 28, 2018}} InfoSpace reported $249 million in revenue that year, up 89 percent from the previous year.{{cite news|url=http://seattletimes.com/html/businesstechnology/2002200296_dotcon3today08.html|title=Dot-Con Job - Part 3: The Aftermath - New management, tighter focus finally put InfoSpace in the black|last1=Heath|first1=David|date=March 7, 2005|work=The Seattle Times|access-date=September 13, 2013}}

In 2007, InfoSpace sold Atlas Mobile studio to Twistbox,{{cite web|url=https://www.ign.com/articles/2007/01/26/twistbox-acquires-infospace-games|title=Twistbox Acquires Infospace Games|date=January 26, 2007|work=IGN Wireless|access-date=November 28, 2018}} Moviso to mobile content tech firm FunMobility,{{cite web|url=https://techcrunch.com/2007/06/12/infospace-unloads-moviso/|title=InfoSpace Unloads Moviso|date=June 12, 2007|work=TechCrunch|access-date=November 28, 2018}} and IOMO re-emerged as FinBlade.{{cite web|url=https://www.mcvuk.com/development/finblade-opens-its-doors|title=FinBlade opens its doors|last=O'Brien|first=Stuart|date=August 6, 2007|work=MCV|access-date=November 28, 2018}} InfoSpace's directory services were acquired by Idearc for $225 million in September 2007,{{cite web|url=https://www.cnbc.com/2007/09/17/infospace-to-sell-assets-to-idearc-for-225-million.html|title=InfoSpace to Sell Assets to Idearc for $225 Million|date=September 17, 2007|agency=Associated Press|publisher=CNBC|access-date=November 28, 2018}} while the remaining portions of InfoSpace Mobile were acquired by Motricity for $135 million in October 2007.{{cite web|url=https://mashable.com/2007/10/15/motricity-infospace/|title=Motricity Acquires InfoSpace for $135M|last=Nicole|first=Kristen|date=October 15, 2007|work=Mashable|access-date=November 28, 2018}}

In February 2009, Jim Voelker resigned as CEO and president but remained chairman. From February 2009 to November 2010, Will Lansing was president and CEO.{{cite web|url=https://www.bizjournals.com/seattle/blog/techflash/2009/02/Voelker_leaves_InfoSpace_as_former_VC_takes_over39151932.html|title=Voelker retires as CEO of InfoSpace; former VC takes over|last=Cook|first=John|date=February 5, 2009|work=Puget Sound Business Journal|access-date=November 28, 2018}} Under Lansing's leadership, InfoSpace started an online auction website called haggle.com, but after one year the website was shut down and its remaining assets were sold to BigDeal.com.{{cite web|url=https://www.bizjournals.com/seattle/blog/techflash/2010/11/infospace-shuts-down-haggle-sells.html|title=InfoSpace shuts down Haggle, sells assets to BigDeal.com|last=Engleman|first=Eric|date=November 2, 2010|work=Puget Sound Business Journal|access-date=November 2, 2010}}

In January 2012, InfoSpace acquired tax preparation software company TaxAct,{{cite web|url=https://techcrunch.com/2012/01/09/infospace-buys-online-tax-solutions-company-taxact-for-287-5m-in-cash/|title=InfoSpace Buys Online Tax Solutions Company TaxACT For $287.5M In Cash|date=January 9, 2012|work=TechCrunch|access-date=November 28, 2018}} and to help differentiate its name from its new purchase, and that of its InfoSpace search unit, it rebranded as Blucora.{{cite web|url=https://www.marketwatch.com/story/infospace-becomes-blucora-new-symbols-bcor-2012-06-07|title=InfoSpace becomes Blucora; new symbol's BCOR|last=Fox|first=Ben|date=June 7, 2012|work=MarketWatch|access-date=November 28, 2018}} On April 21, 2014, Discovery Communications announced that they had sold HowStuffWorks to Blucora for $45 million.{{cite news | url=https://www.bloomberg.com/news/2014-04-21/discovery-sells-howstuffworks-at-82-loss-after-seven-years.html | title=Discovery Sells HowStuffWorks at 82% Loss After Seven Years | work=Bloomberg | date=April 21, 2014 | access-date=April 22, 2014}}

In July 2016, Blucora sold InfoSpace and HowStuffWorks to data analytics and data management company OpenMail for $45 million in cash.{{cite news | url=http://www.seattletimes.com/business/technology/blucora-to-sell-infospace-business-for-45-million/ |title=Blucora to sell InfoSpace business for $45 million | work=Seattle Times | date=July 5, 2016}}

In a shareholder lawsuit filed in 2003, a lower court federal judge ruled that former InfoSpace CEO, Naveen Jain, had purchased shares of InfoSpace in violation of six month short swing insider trading rules, and issued a $247 million judgment against him, the largest award of its kind at that time.{{cite news|url=https://archive.seattletimes.com/archive/20030823/infospace230/ex-infospace-chief-ordered-to-pay-247-million-penalty|title=Ex-InfoSpace chief ordered to pay $247 million penalty|last=Heath|first=David|date=August 23, 2003|publisher=Seattle Times|access-date=February 24, 2010}} Jain appealed the ruling in 2005, and settled the case for $105 million, while denying liability. Jain's attempt to further litigate against his former lawyers for the loss was dismissed.Heath, David; Pian Chan, Sharon; Dot-con Job: Part 3: The Aftermath – Unusual ally: SEC, The Seattle Times, 2005.[http://seattletimes.nwsource.com/html/politics/2008831296_apscotusinfospace.html Court turns down appeal from Infospace founder], {{webarchive |url=https://web.archive.org/web/20110622053354/http://seattletimes.nwsource.com/html/politics/2008831296_apscotusinfospace.html |date=June 22, 2011 }} The Seattle Times, March 9, 2009.{{Cite web|url=https://www.sec.gov/Archives/edgar/data/1068875/000119312504219392/dex991.htm|title=Press Release, dated December 22, 2004|website=www.sec.gov|access-date=2019-01-08}}

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Category:Internet search engines

Category:Internet properties established in 1996

Category:Companies based in Irving, Texas

Category:1998 initial public offerings