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A woman takes pictures with Nokia’s new smartphone, the Lumia 1020, with a 41-megapixel camera, after its unveiling in New York, July 11, 2013. Toronto-based Keek Inc. was an early entrant in what is now a sought-after corner of social media, the sharing of short videos. (A keek is a Scottish term for a quick peek.) Keek’s user base is soaring, with more than 45 million users worldwide as of last month.
A woman takes pictures with Nokia’s new smartphone, the Lumia 1020, with a 41-megapixel camera, after its unveiling in New York, July 11, 2013. Toronto-based Keek Inc. was an early entrant in what is now a sought-after corner of social media, the sharing of short videos. (A keek is a Scottish term for a quick peek.) Keek’s user base is soaring, with more than 45 million users worldwide as of last month.
(SHANNON STAPLETON/REUTERS)

Tech startup Keek rebounds from money crunch

A year ago, investors and management at Toronto-based video-sharing startup Keek Inc. were looking for a huge valuation and dreaming of a future as a social-media superstar.

After a rough patch that saw the company almost run out of money, Keek is now publicly traded, but not through a blowout initial public offering, the hoped-for outcome of a tech startup. Instead, the company went public through a merger with a shell company that had been an oil and gas explorer. It trades for about 20 cents a share, and has a market capitalization of about $28-million.