Accoona is a bit of an eclectic company (and I have no clue what the company name means). There are three different online business segments: ExchangePlace (allows for bidding on product and service offerings for consumers); an artificial intelligence search engine (which is in the US, Europe and China); and six retail websites.Now, the company has filed to go public.
In a way, Accoona is like a conglomerate – something like ValueClick Inc. (NASDAQ: VCLK). Although, in light of the recent M&A activity, companies like Google (NASDAQ: GOOG) have the same feel.
Although it looks like a big priority at Accoona is the China market. To this end, the company has an alliance with the China Daily Information Company (which owns 6.9% of Accoona's outstanding shares).
From 2005 to 2006, Accoona's revenues have gone from $77.9 million to $149.2 million. And in Q1 of this year, revenues were $37.5 million. But the company is still losing money.
The lead underwriter on the deal is boutique investment bank Maxim Group and the proposed ticker is "ACNA."
The prospectus is on the SEC website. Also, if you want to check out more recent IPO filings, click here.
Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.
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Reader Comments (Page 1 of 1)
8-06-2007 @ 2:39PM
Aparna said...
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Thanks for this well-written article.
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Aparna
9-03-2007 @ 4:20AM
Robert Cole said...
Read this article published in one the most important chinese financial sites.
http://en.ce.cn/Business/Enterprise/200708/31/t20070831_12749678.shtml