Spare me your Blinkx- Redux
Great post from Max on AIM and it’s unlikely success stories, in this case Blinkx. How AIM continues to provide incredibly off-market price to immature businesses puzzles and worries me. Is anyone asking the question of why a Bay Area based business (the most overbanked VC market on the planet) comes back to the UK’s lightly regulated market to raise finance ? Why would an early stage speculative company with a shifting business model decide to go public if it had a decent alternative in its natural funding market ? Unsustainable, overpriced, and distracting. As VentureBeat puts it, it strikes all the hype buttons at the right time. This is not the way to build a credible local public equity market, and AIM underwriters are in my view not acting reponsibly.
<— Max had sand in his shoes so he got upset