Video search engine blinkx on Friday reported a full-year revenue increase of 73 percent year-over-year, which saw the stock surge 4.17 percent in early trading. The company attributed the strong
gain to increased demand for video on smartphones and tablets as well as an increase in advertising streams. “The proliferation of powerful connected devices and high-speed broadband networks
has catalyzed consumer appetite for web video,” said CEO and Founder Suranga Chandratillake.
Blinkx revenue in the year ending March 31 improved to $114.4 million from $66.1 million
in 2011, while the company’s pre-tax profit increased to $10.7 million from $8.3 million. During that period, blinkx made two major acquisitions -- online ad technology company Burst Media, and
Prime Visibility Media, a digital advertising agency. The acquisitions boosted the company’s publisher network by more than 2,000 new publishers.