Facebook Not Looking for Search Partner
Nov 19th 2012 3:06PM
Facebook Inc. (NASDAQ: FB) has now denied that it is in talks with Yahoo! Inc. (NASDAQ: YHOO) - or any other company for that matter - regarding search partnership. TechCrunch reports that it received the following short email from Facebook:
People expect a better search experience on Facebook. We are working on improvements to better meet those expectations but are not in talks to enter into a new search partnership.
That's really no surprise. We noted this morning that the original report from London's Telegraph newspaper had no chance of being correct, and Facebook apparently agrees.
Facebook may be working on some kind of social search product, but any idea that such a project would be in the works with the goal of unseating Google Inc. (NASDAQ: GOOG) is not the case now.
Facebook's shares are down about 2.5%, almost as much as they rose earlier today. The stock is now trading at $22.93 in a post-IPO range of $17.55 to $45.00.
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