SiliconValley.com: Online retailer retreats on IPO
Web book retailer Alibris admitted that it overestimated the frothiness of the web IPO market when it announced it planned to take in tens of millions of dollars for a smallish stake it its unprofitable business. Lack of interest caused the company to nix its IPO (and probably not the fact that MarketingVOX panned it when first announced).
Chastened CEO Marty Manley called off the planned Dutch auction that would have determined a price this week when he saw what sort of money people were willing to pay for shares. "You can conclude," he said, "we did not walk away from the pricing because it was too high."
