Feeds

Phorm losses shoot up by half

Advertisers wanted

Intelligent flash storage arrays

Phorm made a loss of $24.7m (£13.8m) in the first half of 2008 as it fought privacy advocates, lobbied to get politicians on side and tried to overcome technical problems dogging its ISP adware system.

The firm's losses were up 52 per cent compared to the same period in 2007. It still has about £24.9m in cash reserves, mostly from a stock sale earlier this year. Revenue remains zero.

In an unusually lengthy statement accompanying the results, CEO Kent Ertugrul said the response from advertisers - the people Phorm hopes will eventually repay investors' tens of millions - to the "Open Internet Exchange" has been "very positive" in the UK. He didn't reveal any deals with ad agencies or publishers, but said "we have engaged with the majority of the key media agencies".

Phorm's figures were released the day after BT finally scheduled its third trial of the technology. Ertugrul said he expects development of the business "to accelerate now that the BT trial has begun". He said talks with ISPs overseas are continuing, and that a consumer trial with an unnamed non-US provider is ongoing.

Political scrutiny has made behavioural targeting a hot potato for US ISPs, but Phorm has hired a major lobbying firm in a bid to persuade Congressmen to its point of view.

In the UK the BT trial is set to last several weeks* and it is likely to be several months before a full network deployment with advertisers on board.

Ertugrul said: "We appreciate that there are significant challenges to meet in order for the Company to realise the opportunity to tap into the growing internet advertising market. The Company is still early in its stage of development and as is to be expected of any project of this size, there will be many issues to deal with to deploy our system."

The full statement and results are here. ®

*Strangely, El Reg hasn't heard from anyone who has been invited to take part in BT's test. Get in touch if you have.

Secure remote control for conventional and virtual desktops

More from The Register

next story
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
4chan outraged by Emma Watson nudie photo leak SCAM
In the immortal words of Shaggy, it wasn't me us ... amirite?
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.