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June 11, 2006
Indian-German Seekport Seeks IPO
The German press is reporting that online search company Seekport, founded two and half years ago, is to list on the AIM in the next six months, with plans to list on Nasdaq subsequently.
The success of the floatation of Chinese search portal Baidu is apparently giving current shareholders confidence, according to press reports.
Seekport was founded by former Infospace executive, Joachim Kreibich, in December 2003. It runs a consumer oriented search portal and delivers white label search solutions to the likes of lastminute.com and publisher IDG. Seekport's sales are reportedly €7.5M last year with €14M forecast this year. It operates in Germany, UK, France, Spain, Italy and Saudi Arabia.
One third of Seekport is held by Aftek Infosys, an Indian IT firm. It was Aftek that originally announced the plans for a float.
Read - Deutsch-indische Suchmaschine soll an die Nasdaq (Der Spiegel)
Read - Seekport plans NASDAQ listing in 12 months (moneycontrol)
Posted on June 11, 2006 09:48 PM | Posted to IPO | Online services | Permalink
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