LookSmart

The name "LookSmart" is a double entendre, referring to both its selective, editorially compiled directory and as a compliment to users whom the company thinks "look smart".{{Cite web|url=http://searchenginewatch.com/sew/news/2063925/whats-in-a-search-engines-name|title=What's in A (Search Engine's) Name?|last=Sherman|first=Chris|date=8 October 2003|website=Search Engine Watch|archive-url=https://web.archive.org/web/20150103053032/http://searchenginewatch.com/sew/news/2063925/whats-in-a-search-engines-name|archive-date=3 January 2015|access-date=13 February 2019}}

LookSmart was founded as Homebase in 1995 in Melbourne, Australia by husband and wife Evan Thornley and Tracy Ellery, executives of McKinsey & Company.{{cite book | url=https://books.google.com/books?id=OciNwH5k4O0C&pg=PA430 | title=Enterprise and Venture Capital: A Business Builders' and Investors' Handbook | first=Christopher | last=Golis | publisher=ReadHowYouWant.com | year=2010| isbn=9781459602946 }} Reader's Digest invested $5 million in the company for an 80% stake. The original concept of Homebase was to build a female and family-friendly web portal to supplement the Reader's Digest magazine. After leadership and strategy changes at Reader's Digest, which reduced RD's focus on its online business, RD wanted to shut down Homebase, which would have cost $4 million in payouts and other termination costs. The founders and former McKinsey's employee Martin Hosking instead proposed a cheaper leveraged buyout of Homebase.

On 28 October 1996, the company launched its LookSmart search engine.{{Cite web|url=https://adage.com/article/news/deal-helps-readers-digest-web-rda-sets-site-launch-search-tool/76880/|title=DEAL HELPS READERS TO DIGEST THE WEB : RDA SETS SITE LAUNCH, SEARCH TOOL|last=Cleland|first=Kim|date=7 October 1996|website=Ad Age|language=en|archive-url=https://web.archive.org/web/20190203051806/https://adage.com/article/news/deal-helps-readers-digest-web-rda-sets-site-launch-search-tool/76880/|archive-date=3 February 2019|access-date=2 February 2019}} At launch, the search engine listed more than 85,000 sites and had a "Java-enhanced" interface. In June 1997, the search engine underwent a major redesign, dropping its original Java-based browsing system.{{Cite web|url=https://searchenginewatch.com/sew/news/2047963/the-search-engine-update-june-1997-number|title=The Search Engine Update, June 17, 1997, Number 7|last=Sullivan|first=Danny|date=16 June 1997|website=Search Engine Watch|language=en-US|archive-url=https://web.archive.org/web/20160414221045/https://searchenginewatch.com/sew/news/2047963/the-search-engine-update-june-1997-number|archive-date=14 April 2016|access-date=2 February 2019}}

LookSmart was sold back to the founders as well as Martin Hosking through a leveraged buyout in 1998, with Reader's Digest providing a $1.5 million loan and retaining about a 10% equity stake.{{Cite news|url=https://www.crikey.com.au/2009/01/14/thornley-1-the-macquarie-connection/|archive-url=https://web.archive.org/web/20091122162124/https://www.crikey.com.au/2009/01/14/thornley-1-the-macquarie-connection/|url-status=dead|archive-date=22 November 2009|title=Thornley 1: the Macquarie connection|last=Crook|first=Andrew|date=14 January 2009|work=Crikey|access-date=13 May 2019}} Also in 1998, a search box was added to the LookSmart search engine along with People Search, Yellow pages, Discussions and shopping search.{{Cite web|url=https://www.searchenginejournal.com/10-years-of-looksmart-visual-timeline/3314/|title=10 Years of LookSmart – Visual Timeline|last=Baker|first=Loren|date=24 April 2006|website=Search Engine Journal|language=en|archive-url=https://web.archive.org/web/20071018174025/https://www.searchenginejournal.com/10-years-of-looksmart-visual-timeline/3314/|archive-date=18 October 2007|access-date=13 February 2019}} In May 1998, the company raised $2.3 million from Amwin and $6.0 million from Cox Media Group and Macquarie Bank and was valued at $23.3 million. On 21 December 1998, LookSmart stopped accepting pornographic advertisements.{{Cite web|url=https://www.cnet.com/news/looksmart-abstains-from-adult-advertising/|title=LookSmart abstains from adult advertising|date=21 December 1998|website=CNET|language=en|access-date=25 March 2019}}

By 1999, the company had 500 employees and LookSmart was the twelfth most visited website worldwide with 10 million users, behind AltaVista and ahead of Snap. In early-1999, the company reached an agreement to provide directory and listing services for Microsoft for 5 years. The deal provided the company with $30 million upfront and guaranteed payments of $5 million per year.{{Cite web|url=https://www.cnet.com/news/looksmart-to-fill-msns-search-results/|title=LookSmart to fill MSN's search results|last=Hu|first=Jim|date=8 February 1999|website=CNET|access-date=13 May 2019}} In late-March 1999, the company raised $59.6 million based on a post-money valuation of $430 million from Amerindo Investment Advisors, Citicorp Equity Capital, Cox Interactive Media, Hambrecht & Quist and others.{{Cite web|url=https://www.cnet.com/news/short-take-looksmart-gets-60-million-in-financing/|title=Short Take: LookSmart gets $60 million in financing|date=31 March 1999|website=CNET|language=en|access-date=25 March 2019}} In May 1999, LookSmart formed a strategic partnership with direct-response marketing company Guthy-Renker and acquired some of their assets from their e-commerce division for $3 million.{{Cite web|url=https://www.dmnews.com/customer-experience/news/13100538/looksmart-guthyrenker-partner|title=Looksmart, Guthy-Renker Partner|last=Hamstra|first=Mark|date=21 May 1999|website=DMNews.com|language=en|access-date=19 March 2019}}{{Cite web|url=http://getfilings.com/o0001021408-03-004294.html#tx057_7|title=LOOKSMART LTD – 10-K Annual Report – 12/31/2002|access-date=19 March 2019}}

On 20 August 1999, during the dot-com bubble, the company became a public company via an initial public offering on the NASDAQ, debuting at $12 per share and raising $92.4 million based on a $1 billion valuation for the company.{{cite web | url=https://www.nasdaq.com/markets/ipos/company/looksmart-ltd-9351-5507 | title=LOOKSMART LTD (LOOK) IPO | publisher=NASDAQ}} LookSmart used the money it made from its IPO to open offices in Denmark, Canada and the Netherlands. By October 1999, the stock price reached $30 per share, giving the company a market capitalization of $2.5 billion.{{cite news | url=https://www.marketwatch.com/story/thom-calandras-stockwatch-looksmart-shares-poised-for-something-but-what | title=LookSmart shares poised for something, but what? | work=Marketwatch | date=14 October 1999}} The founders' 15% stake was worth $375 million.{{cite news | url=https://www.smh.com.au/articles/2004/01/21/1074360833933.html | title=LookSmart not looking smart | first=James | last=Chessell | work=The Sydney Morning Herald | date=22 January 2004}} On 10 November 1999, LookSmart and BT Group founded joint venture BT LookSmart.{{Cite web|url=https://www.bloomberg.com/research//stocks/private/snapshot.asp?privcapId=3768400|title=Company Overview of BT LookSmart|website=Bloomberg L.P.|access-date=28 April 2019}}{{Cite web|url=http://www.independent.co.uk/news/business/bt-joins-looksmart-in-pounds-130m-venture-1125114.html|title=BT joins LookSmart in pounds 130m venture|date=11 November 1999|website=The Independent|language=en|access-date=28 April 2019}} In December 1999, LookSmart purchased FutureCorp and its free email service Start for more than $5 million from its co-founders Michael Mak and Bardia Housman.{{Cite news|last=|first=|date=March 26, 2002|title=Founders Start again after LookSmart's exit|work=The Sydney Morning Herald|url=https://www.smh.com.au/articles/2002/03/23/1016843083175.html|url-status=live|access-date=January 10, 2021|archive-url=https://web.archive.org/web/20020607023917/https://www.smh.com.au/articles/2002/03/23/1016843083175.html|archive-date=June 7, 2002}} Also in December, LookSmart acquired 14.5% of the voting stock of Dstore Pty Ltd. for $300,000.{{Cite web|last=|first=|date=2004|title=Report of Independent Registered Public Accounting Firm|url=https://www.sec.gov/Archives/edgar/data/1077866/000119312504214657/dex993.htm|access-date=2021-01-11|website=US Securities and Exchange Commission}}

In 2000, FindArticles, a website which provided access to articles previously published in magazines, journals, and other sources, was founded{{Cite web|url=http://whois.domaintools.com/findarticles.com|title=FindArticles.com WHOIS, DNS, & Domain Info – DomainTools|website=whois.domaintools.com|access-date=16 December 2018}}{{cite web|url=http://www.resourceshelf.com/2007/11/09/looksmart-sells-findarticles-to-cnet-networks/|title=LookSmart Sells FindArticles to CNET Networks for $20.5 Million in Cash|last1=Price|first1=Gary|last2=Kennedy|first2=Shirl|date=9 November 2007|work=Resource Shelf|archive-url=https://web.archive.org/web/20080623004622/http://www.resourceshelf.com/2007/11/09/looksmart-sells-findarticles-to-cnet-networks/|archive-date=23 June 2008|url-status=dead|accessdate=18 July 2008}}{{cite web|url=http://www.btobonline.com/apps/pbcs.dll/article?AID=/20080211/FREE/629265722/1109/FREE|title=Bnet.com branches out: CNET business information site bulks up its content offerings|last=Schwartz|first=Matthew|date=11 February 2008|work=BtoB Online|publisher=BtoB|archive-url=https://web.archive.org/web/20110721090157/http://www.btobonline.com/apps/pbcs.dll/article?AID=%2F20080211%2FFREE%2F629265722%2F1109%2FFREE|archive-date=21 July 2011|url-status=dead|accessdate=18 July 2008}} as a partnership between LookSmart, which authored the search technology, and the Gale Group, which provided the articles for a fee.{{cite web|url=http://www.antitrustinstitute.org/Antitrust_Resources/Cases___Issues_in_the_NEWS/index.ashx|title=Cases and Issues in the News|publisher=American Antitrust Institute|archive-url=https://web.archive.org/web/20080503021903/http://www.antitrustinstitute.org/Antitrust_Resources/Cases___Issues_in_the_NEWS/index.ashx|archive-date=3 May 2008|url-status=dead|accessdate=18 July 2008}}{{Cite book|title=The Web Library: Building a World Class Personal Library with Free Web Resources|last=Tomaiuolo|first=Nicholas|publisher=Information Today, Inc.|year=2004|isbn=0910965676|pages=[https://archive.org/details/weblibrarybuildi00toma/page/19 19]|url-access=registration|url=https://archive.org/details/weblibrarybuildi00toma/page/19}}{{Cite web|url=http://www.findarticles.com/cf_0/PI/aboutus/index.jhtml|title=About FindArticles|website=FindArticles.com|archive-url=https://web.archive.org/web/20021002222936/http://www.findarticles.com/cf_0/PI/aboutus/index.jhtml|archive-date=2 October 2002|access-date=15 February 2019}}

In March 2000, LookSmart's stock price briefly peaked at $72 per share.{{cite news|url=https://www.crikey.com.au/2009/01/14/thornley-2-looksmart-share-sell-off-remains-unexplained/|archive-url=https://web.archive.org/web/20091122162130/https://www.crikey.com.au/2009/01/14/thornley-2-looksmart-share-sell-off-remains-unexplained/|url-status=dead|archive-date=22 November 2009|title=Thornley 2: LookSmart share sell-off remains unexplained|last=Schwab|first=Adam|date=14 January 2009|work=Crikey}} On 28 March 2000, the International Olympic Committee (IOC) signed a sponsorship deal with LookSmart by adding a custom-built LookSmart directory to the Olympic Games' website.{{Cite news|url=https://www.nytimes.com/2000/03/28/technology/olympicscom-signs-sponsorship-deal.html|title=Olympics.com Signs Sponsorship Deal|date=28 March 2000|work=The New York Times|access-date=1 May 2019|language=en-US|issn=0362-4331}} On 30 May 2000, Juno Online Services reached an agreement with LookSmart to provide Juno's subscribers access to LookSmart's directory and LookSmart's stock jumped 8%.{{Cite web|url=https://www.cnet.com/news/juno-and-looksmart-strike-deal-shares-gain/|title=Juno and LookSmart strike deal, shares gain|date=30 May 2000|website=CNET|language=en|access-date=25 March 2019}} On 26 July 2000, AltaVista reached an agreement with LookSmart for it to be their exclusive directory provider.{{Cite web|url=https://www.cnet.com/news/looksmart-pays-portals-to-use-its-service/|title=LookSmart pays portals to use its service|last=Festa|first=Paul|date=26 July 2000|website=CNET|language=en|access-date=25 March 2019}} In October 2000, the company acquired Zeal for $20 million.{{cite news|url=https://www.forbes.com/2000/10/04/1004looksmart.html|title=LookSmart Gets Wise To Value of Volunteers|date=4 October 2000|work=Forbes}}

As a result of the dot-com bubble bursting in late 2000, the company fired 172 employees or 31% of its staff in January 2001 to cut costs.{{cite news | url=https://www.bizjournals.com/sanjose/stories/2001/01/08/daily59.html | title=Layoffs for Looksmart | work=American City Business Journals | date=12 January 2001}} Also in January, LookSmart shut down Inside The Web and LookSmart Live! due to them being unrelated to their core business model. On 17 January 2001, the company reached a deal to provide product categories from its directory to Amazon.{{Cite web|url=https://www.cnet.com/news/looksmart-inks-directory-deal-with-amazon/|title=LookSmart inks directory deal with Amazon|date=17 January 2001|website=CNET|language=en|access-date=25 March 2019}}

Also after the dot-com bubble burst, LookSmart paid $90,000 to transfer 52.8% of its ownership of FutureCorp back to its founders.

On 12 March 2002, LookSmart announced that they would be acquiring WiseNut for about $9.25 million in stock.{{Cite web|url=https://www.dmnews.com/marketing-channels/news/13085879/looksmart-to-buy-wisenut-search-engine-in-925-million-deal|title=LookSmart to Buy WiseNut Search Engine in $9.25 Million Deal|last=Tomasula|first=Dean|date=13 March 2002|website=DMNews.com|language=en|access-date=3 June 2019}} LookSmart completed their acquisition of WiseNut in April.{{Cite web|url=https://www.cnet.com/news/looksmart-completes-purchase-of-wisenut/|title=LookSmart completes purchase of WiseNut|date=8 April 2002|website=CNET|language=en|access-date=25 March 2019}} In June 2002, Thornley resigned as CEO but stayed on as chairman{{cite news|url=https://www.theage.com.au/articles/2002/06/29/1023864671788.html|title=Thornley tips LookSmart profits after boardroom showdown|last1=Sinclair|first1=Jenny|date=2 July 2002|work=The Age|last2=Zetter|first2=Kim}} and three of the seven members of the board of directors resigned in response, including Robert Ryan, Myriann Byerwalter and James Tananbaum.{{Cite web|url=https://www.cnet.com/news/looksmart-replaces-chief-with-coo/|title=LookSmart replaces chief with COO|last=Olsen|first=Stefanie|date=2 July 2002|website=CNET|language=en|access-date=25 March 2019}} In July 2002, BT LookSmart acquired UK Plus from Associated New Media (ANM) for an undisclosed amount.{{Cite web|url=https://www.thefreelibrary.com/BT+LookSmart+buys+UK+Plus+search+engine.-a089634496|title=BT LookSmart buys UK Plus search engine.|date=2002|website=The Free Library from Farlex|access-date=29 January 2019}}{{Cite web|url=https://www.theregister.co.uk/2002/12/04/bt_looksmart_has_ceased/|title=BT LookSmart has ceased to be|last=Cullen|first=Drew|date=4 December 2002|website=The Register|language=en|access-date=28 April 2019}} On 1 October 2002, Jason Kellerman became the CEO of LookSmart, having previously served as COO of the company.{{Cite web|url=https://www.bizjournals.com/sanjose/stories/2002/09/30/story6.html|title=LookSmart aims to outsmart Google with its new offering|last=Mullins|first=Robert|date=29 September 2002|website=American City Business Journals|archive-url=https://web.archive.org/web/20031230070607/https://www.bizjournals.com/sanjose/stories/2002/09/30/story6.html|archive-date=30 December 2003|access-date=28 January 2019}} In early-December 2002, LookSmart paid US$3.5 million in cash and 1 million in LookSmart shares to purchase BT LookSmart from BT Group and subsequently shut down the joint venture.{{Cite web|url=https://www.smh.com.au/technology/looksmart-buys-out-and-shuts-down-joint-venture-with-bt-20021205-gdfx4x.html|title=LookSmart buys out and shuts down joint venture with BT|date=5 December 2002|website=The Sydney Morning Herald|language=en|access-date=28 April 2019}} LookSmart also returned US$1.5 million in restricted cash that was to be used for the funding of the joint venture.

In January 2003, LookSmart acquired Intellectual property rights from Grub for $1.3 million in cash and stock.[https://www.sec.gov/Archives/edgar/data/1077866/000119312504214657/dex993.htm LookSmart SEC filing], 2003 On 6 March 2003, LookSmart announced that they had renewed an agreement with Time Warner Cable's Road Runner division to continue providing directory listings for Road Runner subscribers.{{Cite web|url=https://www.cnet.com/news/looksmart-renews-road-runner-deal/|title=LookSmart renews Road Runner deal|last=Olsen|first=Stefanie|date=6 March 2003|website=CNET|language=en|access-date=25 March 2019}} On 9 July 2003, LookSmart announced that they had reached an agreement to provide listing services in the United States for web portal Terra Lycos.{{Cite web|url=https://www.cnet.com/news/looksmart-licenses-search-to-lycos/|title=LookSmart licenses search to Lycos|last=Olsen|first=Stefanie|date=9 July 2003|website=CNET|language=en|access-date=25 March 2019}}

In August 2003, LookSmart stated in a financial report that Microsoft, which accounted for 64% of the company's listing revenues in the last 6 months and 70% of the company's overall revenue, started testing its own search technology without LookSmart's listings on some of its websites in the United Kingdom and LookSmart's stock dropped more than 20% on 15 August and continued dropping on 18 August.{{cite news | url=https://www.zdnet.com/article/looksmarts-microsoft-deal-looks-rocky/ | title=LookSmart's Microsoft deal looks rocky | first=Matt | last=Hines | work=ZDNet | date=18 August 2003}} Also in August, William Lonergan became the new CFO of LookSmart.{{Cite web|url=https://www.bizjournals.com/sanjose/stories/2003/08/25/daily5.html|title=LookSmart names new CFO|date=25 August 2003|website=American City Business Journals|archive-url=https://web.archive.org/web/20031026093214/https://www.bizjournals.com/sanjose/stories/2003/08/25/daily5.html|archive-date=26 October 2003|access-date=28 January 2019}} In October 2003, LookSmart reintroduced its bid-for-placement ads in order to compete with Google and Yahoo!, which were previously offered through LookSmart's UK division.{{Cite web|url=https://www.cnet.com/news/looksmart-reintroduces-bid-for-placement-ads/|title=LookSmart reintroduces bid-for-placement ads|last=Olsen|first=Stefanie|date=2 October 2003|website=CNET|language=en|access-date=25 March 2019}} On 6 October 2003, Microsoft announced that it would not renew its agreement with LookSmart and the company's stock price plunged 52.3% in a day and its stock fell to $1.44 per share.{{cite news | url=https://www.forbes.com/free_forbes/2005/1031/182.html | archive-url=https://web.archive.org/web/20051029074606/http://www.forbes.com/free_forbes/2005/1031/182.html | url-status=dead | archive-date=29 October 2005 | title=Your Big Best Friend—Or Not | first=Kurt | last=Badenhausen | work=Forbes | date=31 October 2005}}{{Cite web|url=https://www.shareholder.com/looksmart/releaseDetail.cfm?ReleaseID=119375|title=MSN Agreement With LookSmart to End January 15, 2004|date=6 October 2003|website=www.shareholder.com|archive-url=https://web.archive.org/web/20031018023247/https://www.shareholder.com/looksmart/releaseDetail.cfm?ReleaseID=119375|archive-date=18 October 2003|access-date=25 March 2019}}{{cite news | url=https://www.bizjournals.com/sacramento/stories/2003/10/06/daily17.html | title=Deal with Microsoft dies and LookSmart's stock plummets | work=American City Business Journals | date=7 October 2003}} In response to this, LookSmart fired half of its employees in December 2003.{{Cite web|url=https://www.cnet.com/news/looksmart-to-lay-off-half-of-staff/|title=LookSmart to lay off half of staff|last=Hu|first=Jim|date=12 December 2003|website=CNET|language=en|access-date=25 March 2019}}

In September 2003, the company settled a lawsuit filed in May 2002 by Legal Staffing Partners after the company converted thousands of websites that originally had paid a onetime submission fee into a cost-per-click payment model.{{Cite web|url=https://www.cnet.com/news/looksmart-fees-backfire-into-lawsuit/|title=LookSmart fees backfire into lawsuit|last=Olsen|first=Stefanie|website=CNET|language=en|access-date=25 March 2019}}

In 2003, LookSmart had a net income of $5.8 million and made $140.9 million in revenue.{{Cite web|url=https://www.bizjournals.com/sanjose/stories/2004/02/02/daily59.html|title=LookSmart sees higher revenue, lower profit|date=4 February 2004|website=American City Business Journals|archive-url=https://web.archive.org/web/20040224220300/https://www.bizjournals.com/sanjose/stories/2004/02/02/daily59.html|archive-date=24 February 2004|access-date=28 January 2019}}

In January 2004, LookSmart sold its Australian operations to Telstra's online division Sensis and most of LookSmart's 30 employees in Australia started working for Sensis. Also in January, Jason Kellerman resigned as CEO of LookSmart and was temporarily replaced as CEO by Damian Smith.{{Cite web|url=https://www.cnet.com/news/looksmart-chief-resigns/|title=LookSmart chief resigns|last=Olsen|first=Stefanie|date=21 January 2004|website=CNET|language=en|access-date=25 March 2019}} Starting on 15 January 2004, LookSmart's directory listings were no longer shown on MSN Search. In April 2004, LookSmart acquired Net Nanny from BioNet Systems, LLC for $5.3 million in stock and cash.{{Cite web|url=https://www.bizjournals.com/seattle/stories/2004/04/26/daily31.html|title=BioNet sells Net Nanny for $5.3M|date=29 April 2004|website=American City Business Journals|access-date=29 January 2019}} On 1 July 2004, Teresa Dial replaced Thornley as chairman of the company.{{Cite web|url=https://www.sec.gov/Archives/edgar/data/1077866/000119312504110380/dex999.htm|title=TERESA DIAL ELECTED CHAIR OF LOOKSMART BOARD|date=28 June 2004|website=U.S. Securities and Exchange Commission|access-date=3 February 2019}}

In 2005, LookSmart was forced to consolidate its shares after facing suspension from the NASDAQ. On 15 March 2005, LookSmart had a market cap of $96.21 million and its stock price was at $0.85 per share.{{Cite web|url=http://finance.yahoo.com/q/bc?s=LOOK&t=5y&l=off&z=m&q=l&c=|title=LookSmart Ltd (LOOK)|date=15 March 2005|website=Yahoo! Finance|archive-url=https://web.archive.org/web/20050316063925/http://finance.yahoo.com/q/bc?s=LOOK&t=5y&l=off&z=m&q=l&c=|archive-date=16 March 2005|access-date=2 May 2019}} In May 2005, LookSmart started providing Ask.com with its sponsored listings. On 28 March 2006, LookSmart closed the Zeal directory.{{Cite web|url=https://www.searchenginejournal.com/looksmart-closes-zeal-concentrates-on-furlnet/3161/|title=Looksmart Closes Zeal, Concentrates on Furl.net|date=23 March 2006|website=Search Engine Journal|language=en|access-date=7 January 2019}}

In January 2007, ContentWatch Inc. acquired Net Nanny from LookSmart.{{Cite web|url=https://www.netnanny.com/company/press/netnanny/|title=ContentWatch Inc. Acquires Net Nanny from LookSmart Ltd.|website=www.netnanny.com|language=en-US|access-date=29 January 2019}} John Simonelli, the CFO and COO of LookSmart, resigned in June 2007.{{cite news | url=https://www.bizjournals.com/sanfrancisco/stories/2007/06/04/daily47.html | title=LookSmart's CFO to step down | work=American City Business Journals | date=7 June 2007}}{{Cite web|url=https://searchengineland.com/good-news-bad-news-looksmart-cfo-resigns-company-ups-guidance-11425|title=Good News, Bad News: LookSmart CFO Resigns, Company Ups Guidance|last=Sterling|first=Greg|date=8 June 2007|website=Search Engine Land|archive-url=https://web.archive.org/web/20110522210845/https://searchengineland.com/good-news-bad-news-looksmart-cfo-resigns-company-ups-guidance-11425|archive-date=22 May 2011|access-date=1 March 2019}} On 17 July 2007, the company sold Grub to Wikia{{cite news | url=https://www.theregister.co.uk/2007/07/27/wikia_grub_looksmart/ | title=Wikia snatches open search software from LookSmart | first=Ashlee | last=Vance | author-link=Ashlee Vance | work=The Register | date=27 July 2007}} for $50,000.{{cite web | url=https://www.sec.gov/Archives/edgar/data/1077866/000119312507242517/d10q.htm | title=LOOKSMART, LTD. 2007 Form 10-K Annual Report | publisher=U.S. Securities and Exchange Commission}} On 1 August 2007, David Hills resigned as CEO of LookSmart and Edward West was appointed CEO the same day.{{Cite news|url=https://www.reuters.com/article/looksmart-ceo-idUSWNAS930220070801|title=LookSmart CEO resigns, interim replacement named|date=1 August 2007|work=Reuters|access-date=12 February 2019|language=en}} Also in August, LookSmart's management made the decision to exit consumer products and sell or dispose of their websites and assets associating with their consumer properties revenue stream. Further developments in 2007 included Michael Grubb resigning as CTO of LookSmart on 7 September 2007,{{Cite web|url=https://searchengineland.com/looksmart-cto-resigns-12111|title=LookSmart CTO Resigns|last=Sterling|first=Greg|date=6 September 2007|website=Search Engine Land|archive-url=https://web.archive.org/web/20100102133032/https://searchengineland.com/looksmart-cto-resigns-12111|archive-date=2 January 2010|access-date=1 March 2019}} LookSmart closing WiseNut in late-September,{{Cite web|url=http://www.wisenut.com|archive-url=https://web.archive.org/web/20070927204028/http://www.wisenut.com/|url-status=dead|archive-date=27 September 2007|title=WiseNut|date=27 September 2007|website=WiseNut|access-date=10 January 2019}}{{Cite web|url=http://www.wisenut.com|archive-url=https://web.archive.org/web/20070929110758/http://www.wisenut.com/|url-status=dead|archive-date=29 September 2007|title=WiseNut|date=29 September 2007|website=WiseNut|access-date=10 January 2019}} the company delisting from the Australian Securities Exchange on 1 October,{{Cite news|url=https://www.reuters.com/article/looksmart-delisting-idUSN2142112020070622|title=LookSmart to be delisted in Australia 1 Oct.|date=22 June 2007|work=Reuters|access-date=17 February 2019|language=en}} the company selling Zeal on 15 October for $50,000, the company selling FindArticles to CNET Networks on 9 November for $20.5 million,{{cite web |url=http://blog.wired.com:80/business/2007/11/cnet-buys-finda.html#previouspost |archive-url=https://web.archive.org/web/20080118111118/http://blog.wired.com/business/2007/11/cnet-buys-finda.html#previouspost |url-status=dead |archive-date=18 January 2008 |title=CNet Buys FindArticles From a Similarly Regrouping LookSmart |accessdate=18 July 2008 |last=Russell |first=Terrence |date=8 November 2007 |work=Wired Blog Network |publisher=Wired }}{{cite web |url=https://venturebeat.com/2007/11/08/cnet-buys-findarticlescom-from-looksmart-for-205-million/ |title=CNet buys FindArticles.com from LookSmart for $20.5 million |accessdate=18 July 2008 |last=Eldon |first=Eric |date=8 November 2008 |work=Venture Beat}} and William Bush being appointed CFO of LookSmart on 20 December.{{Cite web|url=http://investor.shareholder.com/looksmart/releasedetail.cfm?ReleaseID=282928|title=LookSmart Appoints New Chief Financial Officer|date=20 December 2007|website=investor.shareholder.com|archive-url=https://web.archive.org/web/20071224052203/http://investor.shareholder.com/looksmart/releasedetail.cfm?ReleaseID=282928|archive-date=24 December 2007|access-date=30 January 2019}}

On 14 January 2009, LookSmart had a market cap of US$28 million and its stock price was at $0.14 per share. In March 2009, the company sold Furl to Diigo.{{cite news|url=https://techcrunch.com/2009/03/09/diigo-buys-web-page-clipping-service-furl-away-from-looksmart/|title=Diigo Buys Web Page Clipping Service Furl Away From Looksmart|date=9 March 2009|work=TechCrunch}} In May 2009, Ask.com, which accounted for 89% of LookSmart's company publisher solutions revenue in the first quarter of 2009, announced that it would not renew its contract with LookSmart for sponsored listings. In December 2009, Jean-Yves Dexmier became the CEO of LookSmart.{{Cite web|url=https://www.bloomberg.com/profiles/people/1443402-jean-yves-f-dexmier|title=Jean-Yves Dexmier, Former Chairman, Looksmart Ltd|website=Bloomberg L.P.|access-date=19 March 2019}} On 31 December 2009, Ask.com ended its contract with LookSmart for sponsored listings.{{Cite web|url=https://searchenginewatch.com/sew/news/2052311/askcom-will-not-renew-contract-looksmart|title=Ask.com Will Not Renew Contract with LookSmart|last=Johnson|first=Nathania|date=26 May 2009|website=Search Engine Watch|language=en-US|access-date=12 February 2019}}

In February 2013, Michael Onghai became the CEO of LookSmart.{{Cite web|url=https://mgtci.com/team/michael-onghai/|title=Michael Onghai|website=MGT Capital Investments|language=en-US|access-date=13 February 2019}} On 2 September 2013, LookSmart's Canadian subsidiary, LookSmart Canada Ltd., acquired assets of Syncapse Corp. upon court approval for $3 million.{{Cite web|url=http://biz.yahoo.com/e/130906/look8-k.html|archive-url=https://web.archive.org/web/20130908154914/http://biz.yahoo.com/e/130906/look8-k.html|url-status=dead|archive-date=8 September 2013|title=Form 8-K for LOOKSMART LTD|date=8 September 2013|website=Yahoo! Finance|access-date=9 January 2019}} On 22 September 2014, LookSmart announced the launch of its Information Technology services offering Novatech.io.{{Cite web|url=https://www.prnewswire.com/news-releases/looksmart-announces-its-novatech-managed-it-services-offering-276208391.html|title=LookSmart Announces its NovaTech Managed IT Services Offering|date=22 September 2014|website=PR Newswire|language=en|archive-url=https://web.archive.org/web/20150410111157/https://www.prnewswire.com/news-releases/looksmart-announces-its-novatech-managed-it-services-offering-276208391.html|archive-date=10 April 2015|url-status=live|access-date=20 May 2019}}

On 16 July 2015, the company had a market cap of around $3.6 million and its stock price was at $0.63 per share.{{Cite web|url=http://www.nasdaq.com:80/symbol/look|title=LookSmart, Ltd. Stock Quote & Summary Data|date=16 July 2015|website=NASDAQ|archive-url=https://web.archive.org/web/20150717091324/http://www.nasdaq.com/symbol/look|archive-date=17 July 2015|url-status=live|access-date=17 January 2019}} In October 2015, the company transferred all of its assets to its subsidiary, LookSmart Group Inc. and spun off the ownership of LookSmart Group to its shareholders. LookSmart, Ltd., the company's former entity, completed a merger with Maritime Technologies Corp., a subsidiary of Pyxis Tankers Inc., on 28 October.{{cite press release | url=https://www.prnewswire.com/news-releases/pyxis-tankers-inc-completes-merger-with-looksmart-ltd-and-expects-to-commence-trading-on-the-nasdaq-capital-market-today-538019201.html | title=Pyxis Tankers Inc. Completes Merger with LookSmart, Ltd. and Expects to Commence Trading on the NASDAQ Capital Market Today | publisher=PR Newswire | date=28 October 2015}}

On 24 March 2017, LookSmart Group completed a merger with its subsidiary, LookSmart Capital Inc. and LookSmart Group announced that it would de-register its common stock and suspend its public reporting obligations.{{cite press release | url=https://www.prnewswire.com/news-releases/looksmart-group-effects-1-for-100-reverse-stock-split-to-deregister-applies-to-become-otc-pink-currentalternative-reporting-300429177.html | title=LookSmart Group Effects 1 For 100 Reverse Stock Split, To Deregister, Applies To Become OTC Pink Current/Alternative Reporting | publisher=PR Newswire | date=24 March 2017}} The company changed its trading symbol to LKSTD for 20 business days and changed its trading symbol back to LKST afterwards.

On 3 April 2017, LookSmart Group announced the launch of its new data center building located in Central Phoenix, Arizona as a technology center, Silicon Canyon.{{Cite web|url=http://finance.yahoo.com/news/looksmart-launches-silicon-canyon-businesses-165300202.html|title=Looksmart Launches Silicon Canyon for Businesses Owned by Veterans, Minorities, and Immigrants in Phoenix, AZ|date=3 April 2017|website=Yahoo Finance|language=en-US|access-date=13 February 2019}} On 13 April 2017, LookSmart Group announced partnerships with the Clickable Institute of Technology, Entrepreneurship and Digital marketing and Richie Bello West to help veterans, minorities and immigrants at Silicon Canyon.{{Cite web|url=https://www.accesswire.com/459728/LookSmart-Group-Inc-and-Silicon-Canyon-Announce-Clickable-Institute-and-Richie-Bello-West-Partnerships|title=LookSmart Group Inc. and Silicon Canyon Announce Clickable Institute and Richie Bello West Partnerships|date=13 April 2017|website=Accesswire|access-date=13 February 2019}}

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