Accoona, the odd New Jersey e-commerce company that thought it was a search company, has finally given up on its quixotic quest to go public. Accoona’s letter to the SEC (via PaidContent) pulling its IPO registration cites “unfavorable market conditions”, and that euphemism isn’t completely inaccurate. No one, including the company’s own underwriter, which bailed out a month after the initial S-1, wanted to go near this dog.
Accoona first filed to go public way back in August, which is a lifetime on the Web, so you can familiarise yourself with the grisly details by checking out our archives. But it’s the holidays, so let’s end on a high note: The fact that this thing never got off the ground reminds us that for all the bubble-talk, today’s tech economy looks nothing like the one 10 years ago, where this sort of stuff routinely made its way to the public market. Cheers!
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