Conduit Ltd. has launched a new browser, called "U". The company is continuing to try its luck beyond the toolbar market, which has been its growth engine since it was founded. In the past year, it has made many efforts in the mobile and social networks sectors.
Six months ago, Conduit launched a mobile app that replaces a mobile phone's lock screen, and today it has launched a browser that includes social elements. The browser is based on the code behind Google's Chrome browser, to which it is very similar in configuration and design. The only major change is a window on the right-hand side of the screen which interfaces with the user's social networks, displaying updates from Facebook and Twitter, as well as talk options with friends on Facebook and Gmail.
U's webpage, getu.com, says that additional features will be added, but at first sight it is hard to imagine many users giving up the convenience of Chrome, Firefox, or Explorer's familiar environments merely to get a window with social network updates, especially when there are already several similar solutions on the market.
Earlier in September, Conduit announced that it plans to distribute a $220-230 million dividend to employees and shareholders. The exact amount will be decided on during the fourth quarter. In addition to hundreds of employees, the dividend's beneficiaries will include the company's investors, including Benchmark Capital, W Capital Partners, and JPMorgan Asset Management, which acquired 7.3% of the company in April for $100 million, reflecting a company value of $1.3 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on September 24, 2012
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