Voice to text - the new big thing?

via Moconews

Voice To Text Mobile Firm SpinVox Eyeing Float Again
By Dianne See Morrison - Tue 11 Mar 2008 05:33 AM PST

Never mind the weak financial markets. SpinVox, the mobile phone firm that turns voicemails into text, is reportedly considering floating the company again. The five-year old company, which operates in 7 countries and claims it will reach 30 million customers this year, has appointed Goldman Sachs to help it raise financing that could put a GBP 200 million ($402.4 million) price tag on the firm. The company has been itching to float for a few years now, with the founders apparently eyeing up the success of its American rival Nuance
Communications, which is listed on Nasdaq with a market value of around $3.6 billion. SpinVox initially considered taking the company public in 2006, but couldn't drum up enough interest. Following its deal with Alltel (NYSE: AT) last August to supply its products to the operators 12 million users it said it would try again. The Times.co.uk has done a little digging at Companies House which revealed that sales were only GBP 436,000 ($876,734) in 2006. It expects, however, for sales to boom, reaching GBP 40 million ($80.4 million) in 2008 to GBP 100 million ($201 million) in 2009, after signing on 12 additional operators to carry their product this year.

and here is what Times.co.uk wrote here

Spinvox advisers look into flotation

SPINVOX, the mobile-phone technology firm that converts voicemails into text messages, has appointed advisers to weigh up fundraising options that include a stock-market flotation.

Goldman Sachs will help it raise new finance that could value the business at approaching £200m.

Founded in 2003, Spinvox is expected to reach 30m customers this year, and is already operating in seven countries, including Canada and Australia.

"We are doing what every fast-growing business does," said co-founder Christina Domecq, a scion of the Spanish sherry dynasty. "We have all the options in front of us, whether that is a float or something else."

Domecq and co-founder Daniel Doulton, descended from the pottery family, together own just under half of the business.

Its last set of figures filed at Companies House show that sales were only £436,000 in 2006, up 78% from the preceding 17 months. Pretax losses stepped up from £5.8m to £10.7m because of increased research spending.

However, the business is forecasting a sharp upturn in sales, from £40m in 2008 to £100m in 2009, after doubling the number of mobile-phone carrier partners it has from 12 to 24 this year.

Domecq wants to emulate the success of Nuance Communications, a Nasdaq-listed firm worth $3.6 billion (£1.8 billion) whose speech-recognition technology is used in corporate IT departments and voice-activated satnav.