Edgeio Assets Goes to LookSmart
December 23, 2007 – 9:23 pmLookSmart, the company that powers CPC for many sites has acquired the assets of Edgeio for $280,000.
LookSmart is a publicly traded company that had their stock trading at over $300 a share in 2000. Now, the stock is trading at $3 and has a market cap of $68 million.
The other asset of Edgeio, ARES, (Adaptive Real Estate Services) did not sell because the minimum bid was set too high. Keith Teare, the CEO of Edgeio, said “The reserve on ARES was $150,000. Despite a lot of interest in the assets nobody bid the reserve. As a result there was no buyer. In discussions today we have decided to re-auction the ARES assets, but with no reserve. The auction will run through next Wednesday.”
As of 7:21 on Sunday night, the bid for ARES is at $22,140. You can participate in the Auction here.
