Phorm confident of ad software despite $15m loss

23/09/2009

Phorm said it is making "good progress" towards deploying its controversial advertising software, despite hitting major setbacks this year. The Internet tracking technology company has managed to narrow its losses this year. Loss before tax was $15m, compared to a loss of $24m a year earlier. Phorm uses technology that stores information on the sites web-users visit so that they can be targeted with advertising on other pages.

The firm is in the final stages of a large scale market trial in Korea in partnership with the country's leading internet service provider KT.

In the UK, the company’s hopes of hooking up with major internet service providers (ISPs) TalkTalk and BT were dashed, at least temporarily, when both companies said in July they were not planning to adopt Phorm’s Webwise technology.

“Virgin Media continues to examine behavioural advertising technologies, including Phorm. We remain in ongoing discussions with a number of UK ISPs and remain optimistic about our longer term potential in this market,” the company said in a statement.

Phorm said it continues to "keep BT abreast of developments in our international markets".

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