Citelighter is an intuitive online research platform that enables students and professionals to quickly find and record facts, automatically cite sources, and write better papers/documents. Citelighter is also incredibly useful for individuals doing more basic (non-academic)
At its height in January 1997, News Corporation made an offer of $450 million to purchase the company. However, the offer was withdrawn in March. While there were rumors that it was withdrawn due to issues with the price and revenue projections, James Murdoch said it was due to PointCast's inaction.
Shortly after not accepting the purchase offer, the board of directors decided to replace Christopher Hassett as the CEO. Some reasons included turning down the recent purchase offer, software performance problems (using too much corporate bandwidth) and declining market share (lost to the, then emerging Web portal sites.) After five months, David Dorman was chosen as the new CEO. In an effort to raise more capital, Dorman planned to take the company public. A filing was made in May 1998 with a valuation of $250 million. This plan was abandoned after two months in favor of looking for a company with whom to partner or be acquired.
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