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Online Search/Commerce Services Firm Accoona Files For $80.5 Million IPO

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IPO are coming fast and furious in the online media/commerce sector now: Accoona, an online search and e-commerce service firm based in Jersey City, N.J., has for an IPO of its common stock. The proposed maximum offering price would be roughly $80.5 million, though it may change, reports AP. Accoona plans to list its shares on the Nasdaq under the symbol “ACNA.”

Accoona has three main lines of business: online-lead generation, an online search engine in the U.S., Europe and China and an e-commerce consumer electronics retail business. For now, according to its S-1, almost all of its revenue has come from its e-commerce business in North America: it operates six online retail sites in consumer electronics and home appliances sector. For Q107, it had losses of $14.8 million, compared with a loss of $5.5 million the year-ago period. Revenues for the quarter rose to $37.5 million from $23 million the year-ago period.

The company has a long term (20-year) deal with China Daily Information Company, or CDIC, a subsidiary of China Daily, the largest English language newspaper in China. CDIC owns 6.9 percent of the company.

For initial search buzz on the company when it launched in 2004, read this BW story. The full S-1 filed with SEC is here.