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Ask Jeeves buys direct marketer's assets

Ask Jeeves said Tuesday that it has snapped up assets of direct-marketing company eTour and plans to turn a profit by its fourth quarter. Shares were up 23 cents, or 12 percent, to $2.
Written by ZDNET Editors, Contributor
Ask Jeeves said Tuesday that it has snapped up assets of direct-marketing company eTour and plans to turn a profit by its fourth quarter. Shares were up 23 cents, or 12 percent, to $2.20 in premarket trading on the Island ECN. The stock was still off its 52-week high of $33.88.

Ask Jeeves provides a search engine that answers questions in natural language. The Emeryville, Calif.-based company caters to both consumer and corporate customers.

Ask Jeeves first answered the one question that has stumped investors since its July 1999 IPO--when will the company turn a profit?--when it reported its first-quarter results in April. Management predicted at that time that the company would reach pro forma profitability by its fourth quarter. Full story. --Tiffany Kary, ZDII

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