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  • Answers.com Gains Wiki Web Site


  • 11/09/2006 - Answers.com Gains Wiki Web Site

    New York, New York - November 9, 2006 - FAQ Farm, a wiki-based user-contributed library website, has been acquired by search engine, Answers.com. The acquisition was completed for $2 million in cash, representing a multiple of approximately five times revenue, based on unaudited numbers.

    Additional terms of the transaction will be included by Answers in its current report scheduled to be filed with the Securities and Exchange Commission later today. Answers.com offers visitors free access to comprehensive information on almost four million topics, drawn from over 100 branded encyclopedias, dictionaries, thesauruses and other sources. FAQ Farm represents Answers' initial foray into the burgeoning area of community and user generated content, often called the social web or Web 2.0.

    FAQ Farm generates over 12 million pageviews per month, has 280,000 unique questions and answers on its website, and over 100,000 registered "FAQ Farmer" contributors. As is common in wikis, FAQ Farm's questions and answers are submitted by members of the community and then enhanced over time to increase accuracy, reliability and relevance.

    Bob Rosenschein, CEO of Answers.com opined, ''The acquisition of FAQ Farm is the next logical step forward in our mission of becoming the leading online answer-engine, whether answers come from our existing library of licensed, branded, attributable reference titles, from the web, or now from a community of experts or interested participants. We aim to satisfy our growing dedicated user base by expanding beyond our strength in traditional reference material to embrace the community aspect of learning.''

    FAQ Farm was founded in 2002 by Chris Whitten. Mr. Whitten will continue to oversee and improve FAQ Farm, and will integrate the site's content and technology into Answers.com while adding the authoritative sources of Answers.com to FAQ Farm.

    Mr. Rosenschein continued, ''FAQ Farm will complement our encyclo diction almanac apedia of nearly four million topics by allowing users to ask questions or look up related answers on a specific Answers topic. An interactive relationship can tap into the wisdom of many people and enable them to become part of something bigger.''

    The popularity and success of the wiki platform is based on several elements that set it apart from other modes of communication. First, participants require little or no technical expertise to participate in the community. In addition, wiki entries are "organic" as the content is continually enhanced: When new information becomes available, an existing topic is edited and improved as opposed to being left outdated, incorrect, or contradictory.

    Mr. Whitten added, ''Answers is the perfect home for FAQ Farm. Their vision for developing the ultimate answer-engine fits in beautifully with the philosophies and values of our FAQ Farmers. It is a pleasure to join forces with a team which values the integrity of our community and has high standards for information quality. I am extremely excited about this opportunity to take FAQ Farm to the next level. Our community will benefit by having Answers.com directly available, and we're hoping that Answers.com users will participate as FAQ Farmers and help power its growth with new questions and improvements to answers.'' The initial integration of FAQ Farm into Answers.com is expected to launch in Q1, 2007.

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