Here’s something they don’t teach in marketing 101: If you’re pushing software that no one wants — like, say, annoying adware — and your downloads are going nowhere, what do you do?
Answer: you push somebody else’s popular software AND BUNDLE YOUR CRAP WITH IT!
Remember Zango? It was that irritating adware company that spent years and a million weasel words trying to make its operation seem legitimate. It was fined $3 million in 2006 by the U.S. Federal Trade Commission and it unsuccessfully sued anti-virus vendor Kaspersky in Federal Court in 2007 for calling the Zango malcode “malcode?” After several years of sagging revenue amidst a larger collapse of the adware industry, the company finally folded and sold its assets at fire sale prices last April...
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Comment: So when Blinkx floated nearly 3 years ago it was predicated on video search (ad hoc) and Transaction Hijacking as the big ideas that held the key to future profitability. Here we are nearly three years later and video search seems to be taking very much a back seat (yeah, I know they've done deals with MSN, ITN and Miniweb et al - hasn't taken them to break even or profitability or moved the share price though, has it?) and TH has been shelved for the foreseeable future.
All of which, in my view, is dangerously close to having launched on a false prospectus. Maybe investors who bought at the IPO don't want to be part of an adware/spyware company: and it's trite to say that if they're not happy they should just sell - why the hell should they take a loss on their investment because a useless, arrogant, smug management changes direction with no consultation of or approval by shareholders?
In fact, why the hell should shareholders accept for one minute longer the company being run by a CEO who clearly is unwilling or unable to communicate at all with shareholders, and who has never once put his hand in his pocket to buy shares in his own company?
This is now a totally moribund company. There is hardly any volume in the shares, the price is gradually slipping back, the company management seems to be secretive bordering on paranoid (what are they hiding? maybe they've got nothing to hide?) and even once-loyal shareholders are close to throwing in the towel if they haven't already.
What an absolutely useless shower the muppet crew running this company are. If Chandratillake delivers in spades tomorrow - and he won't, he doesn't have it in him - I will always think that this total blanket of secrecy has been TOTALLY unacceptable.
Once again I'll ask the obvious question: if Blinxk has a story of competent management and success to tell, why aren't they telling it?
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