I met with Damian Smith, who came from Australia to run Looksmart on an interim basis this January, a month or so ago. I didn’t post on it here, mainly because our conversation was book related or topics I imagined he didn’t want posted all over the net. But he sent me a note Friday regarding the two Looksmart news items last week, and they do merit attention. First, the company bought Net Nanny. From the release:
Net Nanny is the world’s leading brand name in consumer online filtering.
“This acquisition is both strategic and prudent for LookSmart,” said Damian Smith, LookSmart’s CEO. “Strategic, because integrating our search technology into Net Nanny provides a stronger product for their users, while also providing LookSmart with a desktop platform from which to launch high margin search and paid listings applications. Prudent, because Net Nanny is expected to produce positive margin contribution for LookSmart in 2004.”
Second, the company announced better earnings than were expected – and raised guidance for next year.