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.
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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...
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Another Sleezy Camera Store
http://donwiss.com/pictures/BrooklynStores/0123.jpg
http://bbbnewyork.org/reports/busi nessreports.aspx?id=4046&pid=44&page=0
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