Accoona Files for $80.5 million IPO
Written By Drupad Sil August 6, 2007

As announced by paidContent.org, New Jersey based online search and e-commerce firm Accoona has filed for an IPO of its common stock. The maximum offering price would be in the realm of $80.5 million.

Launched in 2004 as a potential Google slayer, Accoona quickly generated more buzz through having former President Clinton give a speech at the opening presentation and subsequently spamming the web with promotions and advertisements. The company’s main draw was an artificial intelligence-powered search engine that supposedly learned as it was utilized more and more. In 2005 Accoona’s Toolbar, driven by a Fritz 9 computer chess program, drew against the 33rd World Chess Champion, showing its computing power and versatility. Another feature the search engine allows is for the user to emphasize one keyword above others in a query, sorting the results according to the emphasized keyword. Unfortunately, Accoona’s search engine never really caught on enough to compete with Google.

Here is the full article.

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