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'{{COI|date=August 2010}} {{Infobox Dotcom company | company_name = InfoSpace | company_logo = [[Image:Infospace.jpg]] | company_type = [[Public Corporation]] ({{nasdaq|INSP}}) | foundation = March 1996 | founder = [[Naveen Jain]] | location_city = [[Bellevue, Washington]] | location_country = USA | key_people = William J. Ruckelshaus (Chairman, President and CEO) | services = [[metasearch engine|metasearch]] and [[private-label]] [[web search engine|Internet search]] | revenue = $207.6 million for FY2009<ref name="results2009">[http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9Mzc1ODAwfENoaWxkSUQ9Mzc0Mjg4fFR5cGU9MQ==&t=1 Annual Report to Stockholders] from the InfoSpace investor's website</ref> | url = http://www.infospaceinc.com/ }} '''Infospace''' ({{nasdaq|INSP}}) provides [[metasearch engine|metasearch]] and [[private-label]] [[web search engine|Internet search]] services for consumers and businesses.<ref name="ourstory">[http://www.infospaceinc.com/ourstory/default.aspx Our Story] from InfoSpace's website</ref> InfoSpace's flagship metasearch site is [[Dogpile]]; its other consumer brands are [[WebCrawler]], Nation, [[DoGreatGood]] and [[MetaCrawler]].<ref name="ourstory"/> ==History== InfoSpace was founded in March 1996 by [[Naveen Jain]] after he left [[Microsoft]]. He served as CEO until 2000. The company, which started with six employees, built an online [[yellow pages]] service to be funded through [[advertising]]. A set of simple [[chat room]]s (based on HTML and [[meta refresh]]) were also available on the site. InfoSpace [[IPO|went public]] on December 15, 1998. The company raised $75 million in the offering.<ref>[http://www.wired.com/news/business/0,16842-0.html A Fine IPO for InfoSpace] from ''[[Wired (magazine)|Wired]]''</ref> In July 2000, InfoSpace acquired Go2Net. After the merger, Go2Net CEO Russell Horowitz became president of Infospace.<ref>[http://news.cnet.com/2100-1023-243697.html InfoSpace to buy Go2Net to expand content delivery]</ref> Also, in 2000, InfoSpace used a controversial accounting method to report $46 million in profits when in fact it had lost $282 million. Company executives skirted [[U.S. Securities and Exchange Commission|SEC]] trading restrictions to sell large blocks of their personal stock.<ref>{{cite news |url=http://seattletimes.nwsource.com/html/businesstechnology/2002199042_dotcon2main07.html |title=When times got tough, execs hid troubles, dumped stock |accessdate=2008-03-02 |publisher=The Seattle Times | first1=David | last1=Heath | date=2005-03-07}}</ref> Jain resumed the role of CEO in 2001,<ref>{{cite web|url=http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHTML1?ID=39251&SessionID=kXRfHqxOZWy6c27|title=INFOSPACE INC (Form: 8-K, Received: 01/23/2001 17:15:42|publisher=google.brand.edgar-online.com|accessdate=June 7, 2011}}</ref> but was forced out by InfoSpace's board as chairman and CEO in December 2002.<ref name="PSBJ Ties"/> By June 2002, the company's stock price, which reached $1,305 in March 2000,<ref>[http://seattletimes.nwsource.com/art/news/business/infospace/infospaceTimelineDay1_2_intro.swf The two faces of InfoSpace, 1998-2001]</ref> had dropped to $2.67.<ref name=seattletimes>{{cite news |url=http://seattletimes.nwsource.com/html/businesstechnology/2002198103_dotcon1main06.html |title=Dot-con job: How InfoSpace took its investors for a ride: Business & Technology: The Seattle Times |accessdate=2008-03-02 |work= | first1=David | last1=Heath | date=2005-03-06}}</ref> In 2003, InfoSpace acquired Moviso<ref>[http://www.econtentmag.com/Articles/ArticleReader.aspx?ArticleID=5659 ''InfoSpace Acquires Moviso'' on EContentMag.com]</ref> from [[Vivendi Universal]] Net USA. Moviso provides [[ringtone]]s, [[Mobile wallpaper|wallpaper]]s and [[video game]]s, usually accessed through a [[mobile phone|mobile handset]] enabling [[wireless carrier]]s to charge a fee for these downloads. In early March 2003, InfoSpace sued Jain for allegedly violating noncompete agreements in his role at newly founded Intelius. In an interview after the suit was filed, Jain said the lawsuit was without merit and was a retaliation for Jain's whistle-blowing.<ref name="PSBJ Ties">{{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|accessdate=June 7, 2011}}</ref> In April 2003, he resigned from the InfoSpace board.<ref>{{cite web|url=http://www.seattlepi.com/default/article/Former-InfoSpace-CEO-faces-200-million-fine-1114943.php |title=Former InfoSpace CEO faces $200 million fine |publisher=[[Seattle Post-Intelligencer]]|date=May 16, 2003| accessdate=June 7, 2011}}</ref> In 2004, InfoSpace acquired [[Eugene Lee (entrepreneur)|Switchboard]], which is now owned by Verizon spin-off Idearc Media, and overshadowed by Idearc's SuperPages. It also moved into the mobile games space, acquiring Atlas Mobile, [[IOMO]] and elkware.<ref name=AtlasMobile>{{cite news |url= http://www.gamespot.com/news/6101765/infospace-acquires-atlas-mobile |title= InfoSpace acquires Atlas Mobile |author= Benjamin Golze |date= July 1, 2004</ref> In November 2009, InfoSpace started an online auction website called haggle.com.<ref name=Haggle1>{{cite news |url= http://www.techflash.com/seattle/2009/11/infospace_getting_into_ecommerce_business_with_haggle.html |title= Exclusive: InfoSpace gets into ecommerce biz with Haggle |author= Eric Engleman |date= November 24, 2009</ref> A year later, it shut down the website and sold its assets to BigDeal.com.<ref name=Haggle2>{{cite news |url= http://www.techflash.com/seattle/2010/11/infospace-shuts-down-haggle-sells.html |title= Exclusive: InfoSpace gets into ecommerce biz with Haggle |author= Eric Engleman |date= November 1, 2010</ref> In September 2011, InfoSpace secured a $100 million credit facility.<ref name=Credit>{{cite news |url= http://www.fnno.com/story/news-corner/331-infospace-secures-100-million-credit-facility-insp-news-corner |title= InfoSpace Secures $100 Million Credit Facility (INSP) |author= FNNO Staff |date= September 9, 2011</ref> == Shareholder lawsuit == 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.<ref>{{cite news|url=http://community.seattletimes.nwsource.com/archive/?date=20030823&slug=infospace230|title=Ex-InfoSpace chief ordered to pay $247 million penalty|last=Heath|first=David|date=23 August 2003|publisher=Seattle Times|accessdate=24 February 2010}}</ref> While on appeal in 2005, Jain settled the case for $105 million, while denying liability. Jain's attempt in further litigation against his former lawyers for the loss was dismissed.<ref name="SeattleTimes4">Heath, David; Pian Chan, Sharon; ''Dot-con Job: Part 3: The Aftermath - Unusual ally: SEC'', [[The Seattle Times]]'', 2005</ref><ref name="SeattleTimes5">''[http://seattletimes.nwsource.com/html/politics/2008831296_apscotusinfospace.html Court turns down appeal from Infospace founder,]'' The Seattle Times, 9 March 2009.</ref><ref>http://www.sec.gov/Archives/edgar/data/1068875/000119312504219392/dex991.htm</ref> ==References== {{Reflist}} {{DEFAULTSORT:Infospace}} [[Category:Internet search engines]] [[Category:Internet properties established in 1996]] [[Category:Companies based in Bellevue, Washington]] * [http://Space4.info Space for info]'