GoTo to offer 7.5 million shares

Pay-for-placement Web search engine GoTo.com says it has priced a public offering of 7.5 million shares at $16.50 a share. Out of the total, 2.75 million shares will be sold by the company and 4.75 million shares will be sold by Bill Gross' Idealab, which created GoTo. The offering is lead by Credit Suisse First Boston with Salomon Smith Barney and U.S. Bancorp Piper Jaffray as the co-managers. The company has already filed a registration statement with the Securities and Exchange Commission.