GuruNet launches $7.8 million IPO
18 May 2004
Israeli start up GuruNet has filed for an IPO on the Nasdaq Small Cap index.
The company, filed under the ticker GURU, will reportedly issue $7.8 million worth of shares, at an estimated company value of $15 million.
The Jerusalem-based firm raised $28.5 million in a company value of $51.5 million in a private placement in 2000 and held a 5 million financing round in February 2004, at a much lower company value.
GuruNet develops solutions for managing information and responding to questions by individual and business internet surfers. The company offers a fee-based database of ready-reference material to both clients and individuals.
The company recently launched a web based version of its fee-based product. GuruNet charges $29.95/year to access the service, although a two week free trial is available, and offers an online search tool, GuruNet IE Tool Bar, GuruNet 5.0 for Windows, a Mac version and GuruNet Kids for preteens.
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