Answers.com files for Chapter 11 Bankruptcy
Answer Corp, parent company to Answers.com has filed for Chapter 11 bankruptcy in a maneuver to jettison close to half-a-billion in debt.
Top creditors are:
- Yahoo, Inc. with an unsecured claim of $545,209.34.
- Taboola, Inc. with an unsecured claim of $411,754.97.
- Facebook with an unsecured claim of $295,000.
- Don Morrison, former vice president of Foresee, with a severance claim of $217,000.
- Amazon Web Services, Inc. with an unsecured claim of $200,000.
This on the heels of acquiring marketing consulting firm Foresee in 2013 for $200 million.