Blinx narrows losses
November 11, 2008
Video site Blinkx lost $3.26 million between April and September â€“ down from the $12.8 million loss recorded in the same period last year, when the company was spun off from Autonomy and floated on London's AIM market.
What started as just a video search index has added a glut of products this year – a white label video gallery for publishers, a TV guide for third party online video, 3D video and BBTV, its own online streaming TV app that it converted to a web service within just a few months of launch. It's grown revenue from $2.9 millio in the period last year to $6.4 million this time around.
Blinkx says it now has video library from over 420 producers and claims a 681 percent annual UK traffic increase. For all the new product releases, Blinkx's core is its AdHoc video ads platform. Chandratillake remains confident: "We have taken a conservative view of the macro situation and balanced that against the strong growth of the online video market. We therefore believe that, in spite of the current macro-economic conditions, we expect Blinkx to be able to report continued strong growth in the second half and beyond."