blinkx seems to be doing well financially in that the company just doubled the size of its interactive advertising sales team. According to blinkx, the move was made so as to capitalize on the boom with regard to internet video advertising and the company states that even more hiring will occur.
"We're strengthening our team to help us take on a tremendous opportunity in online video advertising," Federico Grosso, senior vice president of business development, blinkx, said in a news release. "I am delighted that we have been able to attract several top advertising sales executives, all of whom have proven track records of success, and a wealth of contacts in the media industry.”
The online TV and video advertising market is growing exponentially: a recent report from Forrester Research forecast that the market will reach $7.2 billion in the US by 2012. In 2007, blinkx launched the world's first truly contextual advertising platform for Internet television and video, AdHoc, to capitalize on this massive opportunity. AdHoc uses blinkx's unique processing technology to match video content and consumer profiles to relevant ads, and since has been used in successful campaigns for leading brands, including Dell, Best Buy and Nokia.