Financial Waves Swamp SurfRay
January 17, 2009
Just a quick update on SurfRay, the search roll up in Copenhagen. SurfRay bought Speed of Mind, Ontolica, and Mondosoft. You can run a query on Beyond Search and read the previous posts about this company. One of my readers in Europe alerted me to a bankruptcy notice. A happy quack to that person. We did some checking and found a document from Bolagsverket’s Official Register, the announcements for January 16, 2009 contained this information:
If your Swedish is rusty, the snippet says that Surfray has been declared bankrupt at Solna court. Future announcements will be issued to some newspapers. I will keep chasing this story. I have no other details as of 3 36 Eastern on January 16, 2009.
Stephen Arnold, January 16, 2009
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14 Responses to “Financial Waves Swamp SurfRay”
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How does this affect their US oeprations?
What is the leadership saying about these annoucements?
The silence is speaks for itself.
Surfray AB is a swedish company.
Surfray.com has always been operated out of Denmark.
It may just be a daughter company that have folded – or a reseller.
It is my understanding that Surfray is privately held. Under Swedish Law this would make the owner of Surfray personally liable for it’s debts. It appears that the Owner of Surfray is experiencing a number of personal financial issues. This can not be good for the company.
Is anyone surprised that the coompany is in trouble. Just look at the history of the owner.
They’ve put up a press release now:
http://www.surfray.com/News/Latest%20News/20090119%20General%20information%20regarding%20operations%20in%20Sweden.aspx
It’s the Swedish operations only, which was reduced to one person already, and letting SurfRay AB go bankrupt may have been the most cost-effective way of wrapping that up. Not, of course, the most elegant way of handling it and still rather indicative of the troubles that plague the company, I’d say.
I just read the posting on their web site. Thank you Mr. Arnold you may have saved my job. We were evaluating their product for the automotive company I work for in the US. I can stop my evaluation now. The last thing I need to do is recommend a product where one of the operations just went bankrupt.
If you are looking for enterprise level search enhancements to SharePoint Search, please check us out: http://www.ba-insight.net or contact me directly if you want to schedule a demo. We blow away Ontolica and we are financial stable.
Wow where are the Chairman of the board and CEO now?
HI D Peoples-Jones, I believe that you are doing the ritgh !!!!. Don´t buy, if you do that you will be in troubles.
Hot news!!! Any chance SurfRay had just walked out the door. According to my sources inside the company Martin Viese today announced that Bill Cobbs is leaving the company. The information was distributed as confidential to employees only. What could this guy be thinking?
Sven,
Thanks for the update. Pretty wild outfit it seems.
Stephen Arnold, January 26, 2009
D Peoples-Jones ,
please also look at
http://arnoldit.com/wordpress/2009/01/27/surfray-more-change
Doesn’t seem like you should even evaluate them..