Overture, formerly GoTo.com, was founded in September 1997 by Bill Gross' Idealab. In June 1998, the company launched its sponsored search service to enable advertisers to bid for search result placement on specific keywords relevant to their businesses. One year later, the company completed the initial public offering of its common stock, which commenced trading on the Nasdaq Stock Market. On October 7, 2003 Yahoo! Inc. acquired Overture, which now operates as a wholly owned subsidiary of Yahoo.
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