GameMasterM - 3:12 pm on Feb 21, 2007 (gmt 0)
According to IAC's recent SEC filing ASK was the shining light of the empire, growing substantially. One would assume this success had to do in part with the selling of their own ads.
For LookSmart's part they have shown to have technology that has value. I did read somewhere FaceBook leased the ad platform however there are no PPC ads on FaceBook. Reed took them on as well but there seems to be no visible evidence there either.
I would conclude neither company is rolling over yet.