Babylon is set to launch its search engine in Eastern Europe and South America in the first quarter of 2014.
After a string of disappointments in the past few months, online translation company Babylon Ltd. (TASE:BBYL) is set to reinvent itself. The company will launch its own search engine in the first quarter of 2014, sources inform "Globes." The new development follows cancellation of Babylon's agreement with Google Inc. (Nasdaq: GOOG) and the planned merger with ironSource.
Babylon's plan is believed to be to enter markets in which its main partners are either not present at all or have a small presence, so as not to compete with them. These markets are believed to be Eastern Europe and South America in the first stage. Babylon's aim is to utilize its ability develop end user characteristics to adapt ads and maximize profits.
It is too early to tell how far the solution will go in replacing the lost profits from the cancellation of the Google deal that contributed 40-50% of the company's revenue.
Published by Globes [online], Israel business news - www.globes-online.com - on December 29, 2013
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