To: Frank_Ching who wrote (8066 ) 5/31/2000 2:05:00 PM From: StockDung Respond to of 10354
Frank, don't Ask Jeeves's Ted Briscoe Ask Jeeves's Briscoe Resigns After Recent Promotion Emeryville, California, May 31 (Bloomberg) -- Ask Jeeves Inc., an Internet question-and-answer service, said President and Chief Operating Officer Ted Briscoe resigned after being promoted to the positions two months ago. Briscoe, 37, will become chief executive of Rancho Cordova, California-based Play Streaming Media Group, a closely held provider of streaming Internet broadcast services for businesses. Ask Jeeves said other executives will assume his duties. After joining Emeryville, California-based Ask Jeeves as chief marketing officer in January 1999, Briscoe helped the company improve to 14th most-visited Web site this year, from 124th in 1999, according to Internet researcher Media Metrix Inc. The increase was among the largest in rank, Media Metrix said. ``His personal ambition was to hold a position as a chief executive of a start-up company,'' Ask Jeeves spokeswoman Heather Staples said. Ask Jeeves had operated without a president or COO before Briscoe's March promotion, and there are no plans to replace him. The company had a first-quarter loss of $47.2 million. The Bloomberg U.S. Internet Index has fallen 44 percent this year as investors dumped shares of many Internet and technology companies on concern about wider losses and higher interest rates. Ask Jeeves shares have dropped 89 percent from their Nov. 16 closing high of 186. The stock fell 11/16 to 20 15/16 in late morning trading after reaching 19. They've risen about 51 percent from their July initial public offering price of 14. May/31/2000 11:20 ET For more stories from Bloomberg News, click here. (C) Copyright 2000 Bloomberg L.P.