LookSmart turned in Q2 results and an outlook that led to severe downward pressure on its stock. But CEO David Hills was upbeat on the company's conference call about vertical search. Here are extracts from his comments:
Vertical search is a simple concept. Our mission is to provide the essential versus the exhaustive for things people have a passion, need or repetitive task to accomplish. Our approach is to launch clusters of sites arranged by vertical. We launched another five sites in Q2, completing our education and research cluster. The first five data sites we launched in Q1 went from 0 audience to more than 350,000 users in June, with no marketing spend and no new hires…
You'll see us launch other clusters over the next several months, but for competitive reasons, I won't divulge which ones, in which order and when. The existing sites will be updated this quarter. This means we'll have common branding…There will be our common design across the sites this quarter, a common naming convention and URL structure. These sites also leverage the Company's assets including Web Search, Directory, The Zeal Community, FindArticles and Furl. These will be great sites that will form a next-generation search network that leverages what we can do for a community of like-minded people with what they do themselves. These sites will be cost-efficient for us to launch…
(Quotes are from the CCBN StreetEvents transcript.)
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