U.K. CMS vendor Mediasurface has become a publicly traded company on the "Alternative Investment Market" (AIM) of the London Stock Exchange (ticker: MSR). Like other lightly-regulated markets, AIM allows small companies to raise modest funds and trade as a security. Sometimes these become known as "penny stocks," and indeed, Mediasurface began trading at 12p. A small post-launch price pop was not quite Googlish, but Mediasurface now has a valuation of about £10m. This is doubtless much smaller than the company's VCs wanted, but at least they can spread the risk a bit. More importantly, the offering allowed Mediasurface to raise £2m -- badly-needed cash in an increasingly competitive European marketplace. We'll say it again: smaller CMS vendors are not going away...
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