LookSmart, Ltd. announced Mark L. Sanders and Scott L. Kauffman each resigned as a member of the board of directors of the company. The board of directors removed Jean-Yves Dexmier as Chief Executive Officer of the Company and he subsequently resigned as a director of the Company on January 28, 2013. On January 25, 2013, the board of directors appointed Michael Onghai as Chief Executive Officer of the Company to hold such office until his successor is elected and qualified or until his earlier resignation or removal.

Mr. Onghai is 42 years old and has served as a director of the Company since January 14, 2013. In addition to serving as a director and Chief Executive Officer of the Company, Mr. Onghai is the President of Snowy August Management LLC. Snowy August provides value-oriented investment management services, focusing on information technology and Southeast Asian businesses and investments.

Prior to founding the company August in 2012, Mr. Onghai served as a principal and portfolio manager of Ibis Management LLC, he joined in August 2003.