LONDON Jan 30 London-listed video search and ad
company Blinkx said it "strongly refutes" assertions
made in a blog post that raised concerns about its business
model and sent shares in the company down by more than half on
Traders had earlier cited the posting by Harvard Business
School professor Benjamin Edelman as the reason for the
sell-off. It questions Blinkx's advertising tactics and the
value the company provided for advertisers.
"Blinkx strongly refutes the assertions made and conclusions
drawn in the blog post," the company said.
"The Company confirms there has been no material change to
the operational and financial performance or outlook for the
business, and that Fiscal Q3 trading was in line with management
Shares in Blinkx were trading down 27 percent at 128.75
pence at 1505 GMT, having earlier touched a low of 85 pence.