Accoona's IPO Postponed As Underwriter Drops Out
from the still-a-nobody dept
Earlier this month came the surprising news that little-known search engine Accoona had filed to do an IPO, hoping to emulate the public market success of Google. Of course Accoona is nothing like Google, as its search engine is not widely used, with most of the company's revenue coming from dodgy e-commerce sites that it has acquired. Well, it looks like the company may have to wait another day for its invitation to the dance, as the planned underwriter, Maxim Group, has pulled out of the deal. Considering the company's shaky financials as well as the checkered past of its founder (in the past he was a penny stock promoter), it seems highly unlikely that any reputable investment bank will get behind the deal. So unless Accoona actually starts drawing users to its search engine (highly unlikely), the company wouldn't appear to be going anywhere soon.Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.
While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.
–The Techdirt Team
Reader Comments
Subscribe: RSS
View by: Time | Thread
Accoona on CNN
So I tried it, and it was mediocre.
And people who can't judge the quality of results they get know they have to use Google.
Basically things are hopeless for Accoona.
Google has ubiquity and brand recognition;
Yahoo has brand recognition and a huge content portal;
Live.com has Microsoft force-feeding us via Windows integration;
Accoona had stupid CNN ads...
[ link to this | view in chronology ]
[ link to this | view in chronology ]
Another Sleezy Camera Store
http://donwiss.com/pictures/BrooklynStores/0123.jpg
http://bbbnewyork.org/reports/busi nessreports.aspx?id=4046&pid=44&page=0
[ link to this | view in chronology ]