I'm not convinced by Blinkx business model, nor by their strategy...
Take today's RNS - they are still attempting to buy a company like MIVA that shows these deteriorating fundamentals.
* MIVA has reported reduced revenues for the last eight consecutive quarters * Advertising spend related to the distribution of the Direct business' toolbars has declined for the last two quarters * Total installed toolbars declined 11% quarter-on-quarter from Q2'08 to Q3'08 * Significant un-reserved liabilities may remain related to the European restructuring
Now i do understand that MIVA offer a distribution network.. but if their core businesses are declining, then BLNX could be buying a complete dog just for the benefit of expanded search.
Apologies if i've misinterpreted the benefits here... but it seems a typical example of empire building by a CEO who clearly shouldn't be in the job.
