Infoseek reports losses; intends to raise capital

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Search engine Infoseek Corp. reported a net loss of $4.1 million for the fourth quarter. The Sunnyvale, Calif.-based search engine reported revenues of $12.5 million for the quarter, a 51% increase from the previous quarter.

Infoseek also said it intends to raise capital in the first quarter of 1998, and depending on market conditions, it will sell 2.5 million to 3 million shares of its common stock.

Copyright January 1998, Crain Communications Inc.

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