GuruNet's stock fell back to Earth on Tuesday after the company revealed the extent of its tightening relationship with Google
Published:
9 February 2005 y., Wednesday
GuruNet's stock fell back to Earth on Tuesday after the company revealed the extent of its tightening relationship with Google.
Since last month, Google has been gradually switching over its search term definition links to GuruNet's Answers.com site from Google's old standby, Dictionary.com. In a conference call with reporters Tuesday morning, GuruNet CEO Robert Rosenschein said Google's transition to Answers.com was complete.
"It now appears we're getting all of that traffic and Dictionary.com is getting none," Rosenschein said.
Dictionary.com is owned and operated by Lexico Publishing Group, a privately held company in Los Angeles. Lexico issued Google a free, nonexclusive license to link to its dictionary definitions in April 2000.
"We're disappointed that we are no longer in their definition link," said Lexico CEO Brian Kariger. "But we continue to work with Google in other areas and look forward to exploring future opportunities in our relationship. Google powers our Web search on Reference.com, and we run AdSense in our network mix."
Google could not immediately be reached for comment.
Investors had run up GuruNet's stock as high as $26 from the mid-teens a week earlier as reports of a closer Google relationship circulated. On Tuesday, they were apparently disappointed by the extent of the relationship as described in the call, and sent the stock down more than 22 percent in midday trading
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