Infoseek hits Wall Street

Search engine company Infoseek started trading today at $12 per share.

Infoseek stock began trading today at $12 per share, as the Net search service provider followed three of its search-engine brethren, Lycos, Excite, and Yahoo, onto the market.

Infoseek put 3.45 million shares of its common stock on sell today.

Infoseek's primary service is the Infoseek Guide, a free Web navigation aid aimed at individual users and funded by advertising. Company officials say Infoseek plans to license new Internet technologies after the company hits the market.

In addition to its Web site, Infoseek's distributes its service through software companies and access providers. The company says it is also actively involved in forming relationships with third-party content providers.

Related stories:
Yahoo IPO closes at $33 after $43 peak
Excite lives up to name on Wall St.
Lycos IPO bodes well for Net stock