blinkx Buys Grab Media
Video search engine blinkx has acquired online video content syndication and ad platform Grab Media. Financial terms of the deal were not disclosed.
blinkx hopes to add incremental audience while improving its relationships with advertisers and publishers with the purchase. “This transaction, while modest in size, enables us to meet growing consumer demand for online video,” said S. Brian Mukherjee, CEO of blinkx. Mukherjee does not expect the transaction to have a material impact on revenue or cost base in the near term.However, Mukherjee does expect Grab Media to help blinkx accelerate the growth of its recently launched syndication efforts, including blinkx VideoAdvantage.
With a renewed focus on recommendation and personalization, as well as integration across users’ social graph, blinkx recently relaunched its flagship Web property blinkx.com. blinkx.com. In beta testing, blinkx reported that mobile usage of the new site was up 400%. To better respond to users’ searches, blinkx says it draws from an index of more than 35 million hours of online video and partnerships with more than 800 content publishers.
Late last year, blinkx reported $2.7 million of net profit on revenues of $82 million for the six months ending Sept.30, 2012. During the period, revenue increased by 84%, the company reported.