Election win: blinkx ups forecasts
Obama wasn’t the only winner of November’s election: London-listed video search engine blinkx today upped its profit forecast on the back of campaign advertising.
The San Francisco and London-based business said it expects full-year profits to come in between $180 million and $185 million (£118 million) thanks in part to big ad spend during the US election.
Acquisitions are also starting to reap rewards — blinkx bought online ad networks Prime Visibility Media Group and Burst Media for $36?million and $30 million respectively in 2011.
blinkx chief executive S Brian Mukherjee said: “The acquisitions have expanded the scope of the blinkx engine.” blinkx, founded in 2004, allows users to search audio and video files on the internet and is based on technologies developed at Cambridge University. Shares rose 14.25p to 82.25p.