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Accoona Kills IPO

Accoona, a search company, has halted its quest to go public. In a letter to the Securities and Exchange Commission, the New Jersey-based company, which tried but largely failed to find a niche for itself in business-to-business search/listings, cited "unfavorable market conditions" as the reason for withdrawing its IPO registration. Accoona had filed to go public in August.

The company's own underwriter had bailed out a month after the initial S-1 filing, and no one else wanted to go near it. 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.

Read the whole story at Silicon Alley Insider »

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