Domain marketplace NameMedia cancels IPO

December 30, 2008 | Camille Ricketts | Comments | |

NameMedia, a popular domain name marketplace, has abandoned its plans to go public. It first filed for the anticipated $172.5 million sale in November 2007, but says current market conditions are too poor to go forward at this time. Formerly called YesDirect, it was going to use the proceeds to pay down its debt and fund product development.

Based in Waltham, Mass., it received funding from Highland Capital Partners (which owns more than half of the business), and Summit Partners. It currently has 75 employees, draws more than 60 million viewers to its web properties a month, and sells domains in 100 countries around the world.

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About the Author, Camille Ricketts

Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.

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