AOL Calls on InfoSpace
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AOL said it chose to make a three-year, multi-million dollar deal with InfoSpace for what it termed, "an effective tool for better connecting the millions of people within the AOL community." The new directory service will be featured on AOL, AOL.com, and the company's Digital City local guide.
Switchboard, which continues to provide the White Pages for AOL until its contract runs out in November, today said it wanted to focus more on expanding its own site.
AOL said it will receive guaranteed minimum annual payments and warrants to purchase shares of InfoSpace.com. Financial specifics were not disclosed.
"Our agreement with America Online offers us a tremendous opportunity to extend InfoSpace.com's award winning directory services and brand to the only truly mass market community online," said Naveen Jain, CEO of InfoSpace.com. "This new relationship is a homerun for both companies, as well as for AOL's members and Internet visitors to AOL.COM and Digital City."
This has been a busy week for InfoSpace, which filed an initial public offering for up to $57.5 million in common stock yesterday.