Monday, August 16, 2004
MatchNet Files, Withdraws IPO
Beverly Hills-based MatchNet, which provides online personal advertisements, has quickly filed and withdrawn an IPO. The company was looking to raise up to $100M in an IPO, which was being underwritten by JPMorgan, Piper Jaffray, CIBC World Markets, and Pacific Crest Securities. The company filed for an IPO on August 4th, but on the 12th quickly changed its mind and asked to withdraw its offering. The company attributed the withdrawal to "recent and current market conditions". The company reported a loss of $10.8M on revenues of $36.9M in 2003.