Avid Life Media Suspends IPO
- Thursday, February 04 2010 @ 10:55 am
- Contributed by: Editor
- Views: 1,944
We just talked about Avid Life Media's IPO (see Story) and it looks like the $60 million initial offering will be delayed on the advice of GMP Capital.
The initial response to woo investors was met with a poor reception, even though Avid Life has solid financial records.
Avid Debuts Reimagined Production and Post Workflow Solutions at NAB NY 2019
Sources are also citing market conditions as another reason for the delay.
Avid Life Media is not alone in delaying their IPO. Another similar company, The FriendFinder Networks, did the same thing this week (see Story), and for similar reasons.
For more on the story, read Reuters.
Filed under: General News