Shares in Blinkx, the video search engine that has floated on London’s AIM market, rose by more than 40% on the first day of trading.
The company’s share price leapt from 45p to 64p, something that increased Blinkx’s valuation to £170m and subsequently prompted a number of mainstream media journalists to dredge up the words ‘dotcom’ and ’boom’.
Blinkx indexes more than 12m hours of video content, and claims to be the world’s largest video search engine. The Times says Blinkx had about 1.1m searches a day last month and about 700,000 unique users daily.
According to Blinkx CEO Suranga Chandratillake:
“Judging from the level of corporate activity among the large internet and content brands both in the US and internationally, it’s clear to us at this stage that video is the web’s next area for significant investment and development.”
Blinkz has a five-year exclusive licence to use Autonomy’s IDOL software, which underpins its video search engine, though this excludes China.
Unlike other video search engines, it indexes words and images within videos, as well as the associated tags – this is an attraction for advertisers and investors, though the company does not expect to post a profit this year.
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