Accoona Launching IPO, Concerned?
Unlike in 1999, you don’t hear a lot about the gold rush of IPOs these days. On occassion one comes to light in online media, but for the most part bringing a company private is more practical due to the frustration and cost of the Sarbanes Oxley laws. However the recent IPO announcement of Accoona has brought interest and skepticism.
Accoona is defined as a search, lead generation and e-commerce company. As revealed in its filing it has lost approximately $80 million over the past three years with annual revenues in excess of $150 Million. For the three months ended March 31, Accoona reported a loss of $14.8 million, compared with a loss of $5.5 million the same period a year earlier. Revenue for the quarter rose to $37.5 million from $23 million the year-ago period.
As reported in VC Ratings, company co-founder Mr. Rousso and stockholder has raised some eyebrows from the S-1 filing. These are quotes from the S-1 filing:
- “In 1999, in the case titled The Government v. Rousso and Laroze, Mr. Rousso [company co-founder and stockholder] was convicted in France of, inter alia, securities fraud, and as part of the proceeding he was credited with time served and fined 120,000 euros.”
- On November 1, 2004, we entered into a Consulting Agreement with SPBD (a company wholly owned by Mr. Rousso, who is a co-founder and a substantial stockholder of ours). The agreement, which was subsequently amended on March 15, 2005, September 1, 2005, December 31, 2005; and August 4, 2006, is for strategic planning and business development services,
- On May 29, 2007, we entered into a Consulting Agreement with Kosai International Limited (“Kosai”). Jean-Gabriel Ture, a member of our Board, holds a 30% interest in Kosai and has served as one of Kosai’s director since 2004… We currently pay Kosai on a daily basis at the rate of $1,113 per day.
- Mr. Pfeiffer [former Compaq CEO who had been chairman of Accoona since 2004] resigned as a member of the board of directors in March 2007.
To date, substantially all of Accoona’s revenue has come from its e-commerce business in North America with a concentration in Appliances. The surprising point noted in the filing is that Accoona has no venture funding.
- Pingback from Search Engine Accoona Looking To Go Public - internalmi6.com - technology news xbox 360 ps3 software hardware unix windows
- Pingback from » Search Engine Accoona Looking To Go Public
Leave a Comment
- 5 New Video Ads You Should Watch Right Now
- Duracell Powermat and Unruly Partner to Support 2013 Holiday Campaign
- DeskSite Partners with NFL to Offer Alternative to Broadcast TV
- Infographic: Adobe By The Numbers
- Marketo Signs Definitive Agreement to Acquire Insightera, Extending Leadership in Multi-Channel Relationship Marketing
Adknowledge Announces Launch of ‘AdStation International’KANSAS CITY, Mo., November 25, 2013 (ADOTAS) – Adknowledge is pleased to announce the launch of AdStation International, a global [...] more...
- 5 New Video Ads You Should Watch Right Now December 13th 2013 ADOTAS – In this week’s round-up we see a late [...] more »
- Duracell Powermat and Unruly Partner to Support 2013 Holiday Campaign December 13th 2013 NEW YORK, December 13, 2013 (ADOTAS) – Today, global video [...] more »
- DeskSite Partners with NFL to Offer Alternative to Broadcast TV December 13th 2013 ADOTAS – DeskSite has just launched a digital video entertainment [...] more »
- Infographic: Adobe By The Numbers December 12th 2013 ADOTAS – Adobe just announced results for its fiscal year that [...] more »
- Marketo Signs Definitive Agreement to Acquire Insightera, Extending Leadership in Multi-Channel Relationship Marketing December 12th 2013 SAN MATEO, Calif., December 12, 2013 (ADOTAS) – Marketo , provider [...] more »
- Rakuten MediaForge Chooses LiveRamp To Bridge Gap Between Customer Databases and Online Marketing for Brands December 12th 2013 SALT LAKE CITY, December 12, 2013 (ADOTAS) — Online marketers [...] more »
- VisualDNA Integrates with Adap.tv, Advertising.com, DataXu, Krux & Rocket Fuel December 12th 2013 LONDON, December 12, 2013 (ADOTAS) – Audience insights company VisualDNA [...] more »
- Let’s Stop Debating Whether or Not Super Bowl Ads are Worth It December 13th 2013
- Infographic: B2B Content Tug of War December 12th 2013
- 5 Mobile Strategies to Make Marketers Merry During the Holidays … and Beyond December 12th 2013
- Gone In 10 Seconds: How the Pioneers of Snapchat Marketing Use the App to Build Their Brand December 12th 2013
- SPECIAL REPORT: Ad Fraud and the Anatomy of a Botnet December 11th 2013
- Digital Media Specialist - Video
- Mgr Channel Planning (Social Media)
- SEO/SEM Analyst
- Manager Planner - Digital Vendor Marketing
- Brand Manager
- Stephen: Your new autoplay video commercials are REALLY annoying. It means I cannot leave your story
- Why Social Media Will Live Past their “Expiry Dates”: [...] in social media stock prices. In May 2012, Facebook reported a $35 billion loss
- Chris Zaharias: Very interesting data. All respect due to Google for having built and scaled tools for
- Dick Bennett CEO: Richard, I (and my company)have been on this scene for years. We performed the initial