Miningco.com changes name to About.com
What's behind the new name: the emphasis on e-commerce. Most engines provide content of one form or another and generate revenue by selling advertising space on the online property. However, the lion's share of money to be made on the Web seems to be in selling or serving as a go-between for selling goods and services.
"We feel the About.com name better underscores the unique and highly targeted media platform to advertisers and commerce partners, which we feel is the most efficient platform for reaching relevant consumers," said CEO Scott Kurnitt in a statement.
The company is forwarding all traffic from www.miningco.com to www.about.com, which is easier to remember and to type. About is also starting an "About me" feature, which lets users personalize their searches and preferences, like other portals already have.
Miningco.com isn't the first to name a quick name change so soon after its initial public offering. Beyond.com (Nasdaq: BYND) began its life as a publicly traded company known as Software.net under the ticker SWNT only to change it two months later.
The search engine that uses people to find links on subjects went public in March.
Shares slid 1 7/8 to 57 1/2 on Friday.