The eye catching and colorful logo of Yippy, Inc. (OTC:YIPI) could be the next big search engine, but with alexa’s ranking of 120k it is clearly just making its first steps. The company is rolling out televised advertising and their stock price is currently rocketing.Four weeks of clearly expensive advertising will begin on Fox News Channel, starting on August 30. The stock market has reacted to this with a vast stock price explosion, making things look positive from the outside. However, the company is not making money from this search engine yet, and the stock looks overvalued and hyped at the moment.
Using Yippy didn’t provide for a favorable experience. At first sight, Google comes out as a winner with more advanced options and more popular and well developed websites in the top search results, compared to the strange design blog like stuff that we got from Yippy after searching the keyword “moon”.[BANNER]
That’s just the first impression, but things don’t really get better when you look at some further facts. The only bright thing about this corporation is the current share price action. Yippy’s secure and family oriented web browser, complementing the search engine, is still work in progress and with that progress comes an increased market cap for the company. Demand for YIPI stock has grown with the recent bounce and has opened a path to short term gains.
Short term only, because the company is not doing well enough to promise a mid to long term value growth. The balance sheet shows only hundreds of thousands in assets and liabilities, way too little for a $70 million market value business.
To date, the entity survived by paying expenses with stocks and receiving capital contributions from the CEO and former director.
The potential of an “award winning” search technology is questionable and could prove to be good after all. Some people even say it’s the best alternative to Google. However, no sound business plan is presented to make money out of the yet unpopular search engine.
