<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2007-05-04</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001077866</issuerCik>
        <issuerName>LOOKSMART LTD</issuerName>
        <issuerTradingSymbol>LOOK</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001300579</rptOwnerCik>
            <rptOwnerName>Sidus Investment Management LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>767 THIRD AVE, 15TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2327392</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Note</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Sidus Investment Management, LLC, a Delaware limited liability company (&quot;Sidus Investment Management&quot;), acts as adviser for various investment funds (collectively, the &quot;Funds&quot;). Sidus Investment Management disclaims beneficial ownership within the meaning of Rule 16a-1(a)(2) under the Securities Exchange Act of 1934 in the Securities owned by the Funds and the Accounts except to the extent, if any, of its pecuniary interest therein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/Sidus Investment Management, LLC</signatureName>
        <signatureDate>2007-06-12</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Alred V. Tobia, Jr., Managing Member</signatureName>
        <signatureDate>2007-06-12</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Michael J. Barone, Managing Member</signatureName>
        <signatureDate>2007-06-12</signatureDate>
    </ownerSignature>
</ownershipDocument>
