Blinkx Expects To See $50 Million
It seems like only yesterday that we first heard Blinkx would go public. It was actually around 20 days ago, but still, the video search engine has now, in the figurative blink of an eye, announced that it expects the financial maneuver to bring in 25 million pounds.
At the current rate of exchange (which doesn’t much favor America), that translates to about $50 million. Reuters notes, however, that “Blinkx said the final price would be announced on May 22.”
If you’ve never heard of Blinkx, this probably sounds like a lot of hype. It may be just that – it’s always hard to say how a tech or Internet company will do. But as WebProNews has noted before, the fledgling video search has a lot going for it, and even beats out Google in some important ways.
“Blinkx allows internet users to search more than 7m hours of video,” reported The Guardian’s Richard Wray in April. “As well as content created by individuals, Blinkx has deals with 200 media partners including MTV and the New York Times to enable searches of their video content.”
Furthermore, “Blinkx not only examines images but listens to soundtracks using speech-to-text technology and reads information such as subtitles to index clips.”
All signs point to Blinkx being a serious competitor in the video search engine field. Its listing on London’s Alternative Investment Market is only going to help – according to Reuters, the $50 million or so in proceeds “would be used to fund growth.”