blinkx makes strong stock market debut
Online video search firm Blinkx has made its stock market debut today, netting Â£25m (US$49.3m) for institutional investors and giving the business a market capitalisation of Â£125m.
Shares in UK-based Blinkx, a spin-off of software specialist Autonomy, began trading at 45p each - the high end of predictions - with investors enthused about the potential of the online video search sector.
“We are clearly delighted that the initial interest in Blinkx has been converted into strong demand,” said the company’s CEO, Suranga Chandratillake.
“Judging from the level of corporate activity among the large internet and content brands both in the US and internationally, it is clear to us at this stage that video is the web’s next area for significant investment and development.”
Blinkx claims some 13 million indexed hours of video content from over 130 content partners, including the likes of AETN, the BBC, HBO and Discovery, and draws on technology developed within Autonomy that makes it possible to search this material using speech recognition and artificial intelligence.