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GuruNet soars after announcing agreement with Google
Wednesday, March 09, 2005
The company's search site will include Google's contextual
AdSense advertising on its information pages.
Israeli company GuruNet (AMEX: GRU), which provides integrated
online reference information, announced today that it had signed
an agreement with Google Inc. to include Google's contextual AdSense
advertising on its information pages, as well as the integration
of Google search into its Answers.com product.
"Our revenue stream is based on including advertising alongside
the million topics in our library," explained Bob Rosenschein,
CEO and founder of GuruNet. "We are pleased to be working with
the industry leader and leveraging their broad ad inventory and
strong technology."
"Answers.com now offers a co-branded, integrated and monetized
version of Google's search functionality, allowing users to remain
in one place for more of their information needs," the company's
announcement said.
Anwers.com recently won praise from Forbes magazine, and has more
than a million hits a daily.
GuruNet shares are currently up 31.5% at $5.68, giving the company
a market cap of $108 million.
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