Sign Of The Times: NameMedia and Eyeblaster Withdraw IPOs
Two of the rare digital media IPOs planned have done something not that rare these days: withdrawing their IPOs. NameMedia, the domain name media company headed by Kelly Conlin, previously CEO of Primedia and IDG, and Eyeblaster, the online rich ad format company, have both filed notices with SEC to withdraw their planned IPOs. Both cites the usual, “market conditions”.
NameMedia filed its S-1 in November last year, with an intent to raise about $172 million. The Waltham, MA-based company offers two main services, monetizing unused domains and facilitating domain name sales.
Meanwhile, Eyeblaster, the NYC and Israel based company, filed for a $115 million IPO in March this year.
Other digital media related companies that have withdrawn their IPOs recently include LocalMatters, Synacor, and Focus Media (NSDQ: FMCN) (which sold part of its company this week to Sina). When will CurrentTV, the only media related IPO pending that I know of, withdraw?
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Comments (1)
Dec 31, 2008 1:28 PM
I think a bad business model contributed to NameMedia’s withdrawal.