Monday, August 16, 2004
Active Network Withdraws IPO
La Jolla-based Active Network has withdrawn its $46M IPO. According to a filing by the company with the SEC, the company requested a withdrawal of its filing due to "unfavorable market conditions". Active Network provides registration and online services for community sports activities and events. The company had filed for an IPO in April, and reported a loss of $1.3M on revenue of $15M in 2003. Active is funded by Austin Ventures, Canaan Partners, Charles River, Ticketmaster, Enterprise and others. The withdrawal comes as a string of high tech companies have withdrawn their IPO offerings due to lack of interest.