Newegg.com withdraws IPO

"At this time the Company has determined not to proceed with the initial public offering contemplated by the Registration Statement. The Registration Statement has not been declared effective by the Commission and the Company hereby confirms that no securities were sold in connection with the offering described in the Registration Statement. Therefore, withdrawal of the Registration Statement is consistent with the public interest and the protection of investors, as contemplated by paragraph (a) of Rule 477."

Re: Newegg.com withdraws IPO

#9

Post by muppetman » Sat, May 28, 2011, 2:10 AM UTC

senthilnayagam wrote: post #7

Hope it has nothing to do with the plaintext password storage revelation , which came last week

Was it much of a story outside of tech circles? i.e. do you think the average investor would have heard about it?

It's an interesting theory anyway. I suspect as someone else has posted that it's related to the way the LinkedIn IPO went.

Re: Newegg.com withdraws IPO

#10

Post by mattdeboard » Sat, May 28, 2011, 2:32 AM UTC

pagekalisedown wrote: post #6

They're trying to avoid getting screwed like Linkedin.

Have you a link to a story about this? I'd not heard anything about LinkedIn's IPO going sour. I googled but nothing except positive stories were returned.