Accoona Files For An IPO

Posted Aug 5, 2007

“Hakuna Matata,” what a wonderful phrase.  Its actually so wonderful, that someone took this Swahili phrase and named it after their search engine.  Accoona is a search engine that utilizes Artificial Intelligence technology to find content related to these searches.

For example, I did a quick search on the band, Sum 41 and what came in return was a link to Sum 41 Ringtones, Sum 41 Concert Tickets, a bio on, some web results, some news results, and a link to some Sum 41 questions on Accoona Answers!  Below is a screen shot:

Accoona is based in Jersey City, NJ.  The proposed maximum offering price is about $80.5 million.  “For now, according to its S-1, almost all of its revenue has come from its e-commerce business in North America: it operates six online retail sites in consumer electronics and home appliances sector. For Q107, it had losses of $14.8 million, compared with a loss of $5.5 million the year-ago period. Revenues for the quarter rose to $37.5 million from $23 million the year-ago period,” reported Rafat Ali of paidContent[1].

At first I was picturing why a company with a big red line would file for an IPO then all of a sudden I was hit with a BGO (blinding glimpse of the obvious).  The revenues are rising.  Funding from an IPO would just take the company to the next level to compete against the big G, Y!, and MS, AOL,, etc. 

[1] paidContent: Online Search/Commerce Services Firm Accoona Files For $80.5 Million IPO