Search Engine Accoona Prepares for an IPO

Internet company Accoona Corp. filed Friday for an initial public offering of its common stock. The Jersey City, N.J.-based company said it expects to use proceeds from the offering for research and development, business expansion and general corporate purposes. Accoona may also use a portion of the proceeds to acquire or invest in complementary companies and technologies.In a preliminary filing with the U.S. Securities and Exchange Commission, Accoona did not disclose the number or expected price range of shares to be offered, but indicated that the proposed maximum offering price would be roughly $80.5 million.

The company said the total offering price was estimated solely to calculate the amount of the registration fee and may change.

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.

AccoonaРІР‚в„ўs attempt at differentiation is that of its semantic search, incorporating the meaning of words into your queries, allow you to further filter your search results based on your highlighted keywords, and will revise information in real time, offering relevant data such as fax and phone numbers, addresses, etc. for particular information you look up.

Accoona has recently been mentioned in New York Times among other promising search engines like hakia.com, Powerset.com, NosyJoe.com and Mahalo.com.

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