During the holidays, a few search-related business dealings were going on. Google wants to buy video compression company On2. Their initial offering was 0.0001 shares of Google Class A common stock for every share of On2 stock. Shareholders were hesitant, so Google has returned to the bargaining table with an additional 15 cents in cash per share. As a result, shares of On2 were up 15 cents today.
Meanwhile, on December 22, ReachLocal filed for an IPO. ReachLocal is an online marketing company that provides a platform to manage search and display ad campaigns across a variety of networks.
While many of the specifics of the IPO are being ironed out, the company is planning for its IPO to sell up to $100 million of stock. Revenue for the first nine months of 2009 came in at $143 million, up 38% versus 2008. The company made $11.7 million in profits during that time.
Twitter Canada MD Kirstine Stewart to Keynote Toronto
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