Blinkx on the road to recovery after Hallmark deal
Online video search company Blinkx started to turn around an otherwise disastrous week today with an announcement that it has done a major content deal with the US Hallmark TV Channel.
Blinkx saw its share price collapse over 30 per cent on Thursday after a critical blog post by a Harvard business professor raised concerns over the firm’s allegedly questionable advertising tactics.
But today’s announcement has put Blinkx back on the road to recovery, giving its share price a seven per cent boost.
Investors appear to be regaining some trust in a business whose profits rose over 90 per cent last year and with revenues that grew 70 per cent to nearly $200m.
(Google)