LookSmart closes $8.3 million in financing

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Web directory LookSmart announced May 14 that it closed a second round of financing valued at $8.3 million. Partners include Cox Interactive Media, believed to be taking a 25% stake in the Web directory; and venture capital companies Walden International Investment Group and Australian Mezzanine Investments. LookSmart was formerly part of Reader's Digest Association. "The deal completes the management buyout from Readers Digest," said Liz Connaghan, director of marketing at LookSmart.

Copyright May 1998, Crain Communications Inc.

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