Search/E-Commerce Firm Accoona Withdraws IPO
By Joseph Weisenthal - Fri 21 Dec 2007 01:55 PM PST
The only surprise here is that it took so long to be official: Search/e-commerce firm Accoona has withdrawn its IPO plans, first announced in August. Care to take a stab at the explanation? You guessed it: unfavorable market conditions. Although the site once generated buzz as a search startup, most of its revenue came from e-commerce, a business running deeply in the red as of its August filing. Soon after its S-1, the company’s sole underwriter, The Maxim Group, dropped out of the deal, and from then on it never filed an update. Filing.
Posted in: Money, IPO, Technologies/Formats, E-commerce, Search
Tags: accoona,
