Another IM-related startup to be sold
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Kozoru, the startup that introduced an AIM searchbot earlier this month, seems to be a weak situation. Not because its search bots called Byoms aren’t picking up enough attention, but said the Kansas City Business Journal, there’s a ‘dying’ talk surrounding the company.
“An official with Nations Media Partners Inc., a firm known more for negotiating telecommunications mergers and acquisitions, said in a release Tuesday that the company will pitch kozoru’s technology to a handful of Internet giants.”
Microsoft, Yahoo, AOL, Google and InterActive Corp., which owns Ask.com, all yield on the potential list of buyers, informed Matt Rice, an associate at Nations Media Partners.
“Kozoru founder John Flowers frequently has said the one option for the startup was to sell to a larger Internet company. Kozoru, which hasn’t yet generated revenue, was founded in late 2004 with $3 million in capital from local investors.”
UPDATE, June 29, 2006 ― John Flower corrected the KC Business Journal. As a comment of this post, “the original press release talks about working to find a strategic partner. No mention of acquisition exists in our official statement, although everyone believes (and understands) an acquisition is possible. […] We believe our position was misrepresented by the Business Journal.” Thanks, John.
Jun 28, 2006 | By Nuno
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The original press release talks about working to find a strategic partner. No mention of acquisition exists in our official statement, although everyone believes (and understands) an acquisition is possible.
“Nations Media Partners, a boutique investment bank specializing in media and telecommunications transactions, announced today that it has been hired by kozoru, Inc. to exclusively represent them in on-going discussions with strategic partners for their byoms™ mobile search technology.”
We believe our position was misrepresented by the Business Journal.
The original press release can be found here: http://www.prweb.com/releases/investment/media/prweb404133.htm
Thanks, John, for this important correction. We update the post.