Following the loss of a major operator customer--widely believed to be Cingular Wireless--and announcing plans to lay off 250 employees, InfoSpace said it plans to stop investing in its direct-to-consumer content business, including its Moviso storefront. The announcement came during its third-quarter conference call, during which InfoSpace posted a net loss of $46.7 million compared with a net income of $11.3 million last year. Instead, executives said, InfoSpace will refocus on bringing its success in online search into wireless.
For more about InfoSpace's results:
- check out this article from RCR Wireless News