blinkx today reported financial results for the period ended 30 September 2007 and the results have been positive; Gross profit for the first half of 2008 was $2.2 million, with a gross margin of 74% and daily searches have grown by 280%.
Suranga Chandratillake, founder and CEO of blinkx, said: "We are pleased to report a strong performance throughout our initial reporting period, with revenues 23% ahead of the top analyst forecast driven by significant growth in daily searches.Key strategic partnerships, including Ask.com and RealNetworks, have established blinkx as the gold standard for TV and video search on the Web and almost tripled our daily searches. We have substantially built out our index of content, adding high-profile media companies such as Kiplinger's and Michael Eisner's Vuguru to our library.
In addition, during the period we added two strategic offerings to our technology portfolio which will promote usage throughout Western Europe and drive advertising revenue worldwide."
Mr. Chandratillake continued: "The popularity of online video is at an all time high, and we are seeing the proliferation of not only user-generated content, but also professionally-produced, high-value programming from established media companies, such as CBS, NBC and News Corp.
With 75% of US users watching or downloading Internet video, the exponential growth in online video demands an advanced search function, and navigation is a vital service which can be monetized through advertising.
Having established blinkx as the gold standard in online TV and video search, and with the introduction of the AdHoc platform, blinkx is ideally positioned at the intersection of content, search and advertising, and uniquely poised to capitalize on the surging video advertising market."
Some of the key features from the report
- Strong revenues, 23% above the top analyst forecast for the 5.5 month period ending 30 September 2007
- 280% growth in daily worldwide searches
- Daily searches average of 4.2 million in September
- 70% growth in content partner base to over 225 media organizations
- Strong growth in customer base, adding blue chip clients including Ask.com, RealNetworks, Infospace and MediaCom
- 160% expansion of core index of video content; total hours indexed exceeds 18.5 million
- Introduction of AdHoc (including Viral) and Native language search
- Successful demerger from Autonomy Corporation plc raising $50 million in IPO
- Key hires in Sales and R&D in order to drive growth
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