#1 Attorneys Network
<span class="articleLocation”>Answers Corp, which owns the
Answers.com and Multiply websites, filed for Chapter 11
bankruptcy on Friday with a plan to swap ownership of the
company to creditors who are owed about $540 million, according
to court documents.
Answers was acquired by Apax Partners, a European private
equity firm, for about $900 million in 2014.
The company’s namesake website offers user-generated answers
on a range of topics, such as “how can you cook a cucumber?” and “does mercury in a thermometer go bad?”
The company rebranded itself last year as Multiply, a “fan
engagement platform” that connects celebrities and their
St Louis-based Answers also owns ForeSee, which provides
customer surveys, and Webcollage, a platform for website
Under the company’s plan, Answers will lower its debt by
$471 million, according to documents filed in Manhattan’s U.S.
Bankruptcy Court. The plan has already been approved by 98
percent of Answers creditors.
#1 Attorneys Search Engine