In order to focus entirely on its ad network, real-time social search site OneRiot is apparently shutting down its real-time social search portal. "While OneRiot says that realtime search is growing
rapidly, it seems that its search portal wasn't bringing home the bacon," reports
TechCrunch.
That startup recently revamped its search engine to
index and rank Likes and links shared by users on Facebook, Twitter, Digg and MySpace. Clearly at a crossroads, the company suffered layoffs this summer, and restructured its executive board, with
Tobias Peggs, formerly President in charge of Strategy, Sales, Distribution and Marketing, taking on the CEO role. CEO and Tesla board Director Kimbal Musk left his role as CEO and became Chairman of
the company. Going forward, OneRiot will attempt to leverage its realtime search technology to open up its ad platform to the public. According to the company, its ad network now reaches over 100
million monthly unique users across search, display and mobile properties.
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