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Time Warner's $20m bet on search engine
Gideon Spanier09.12.08
Media giant Time Warner today announced it is leading a $20 million (£13.4 million) investment in search engine Kosmix, based in the same San Francisco suburb of Mountain View as Google.
Kosmix, which aims to offer web users in-depth results to search requests, launched last year and has raised about $55 million.
Existing investors include Amazon supremo Jeff Bezos and fund manager Bill Miller of Legg Mason. Former Motorola chief Ed Zander is also investing.
Anand Rajaraman and Venky Harinarayan, the founders, use complex algorithms to collate information on Kosmix's portal-style pages. A search result will produce related articles, images, video and web links, as well as targeted sponsorship and advertising.
With 11 million visitors a month, Kosmix has yet to break even, Sister company Right-Health says it is the second-most visited health site in America.
