The Norwegian newspaper Aftenposten/business site E24 reports that Fast Search & Transfer is loosing out on the stock exchange.

The stocks of the Norwegian search company have lost two thirds of their value in one and a half year.

The explanation is simple: The revenue is not in harmony with the company’s expenses. Too many customers are not paying enough for what they get.

“Have the engineers been given too much leeway and spent too much time on the fun stuff?” Aftenposten asks.

CEO John Markus Lervik admits that the company has been too much technology- and sales-driven.

Fast was the company that developed the Alltheweb search engine, which was later amalgamated into the Yahoo! Search Engine. The company is now primarily focusing on the enterprise search marked, but do power search sites like Norwegian Sesam.

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