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OneRiot To Shutter Search Portal

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.

Read the whole story at TechCrunch »

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