MatchNet Pulls IPO, Will Cut 40 Jobs As CEO Resigns

  • August 14, 2004
Last Thursday, online dating company MatchNet withdrew its plans to sell its shares to the public, becoming the third major company to have pulled its IPO last week. MatchNet operates JDate.com and AmericanSingles.com. On the same day it withdrew its IPO, MatchNet President Todd Tappin resigned, and the company announced plans to cut 40 jobs, effective immediately. In its SEC filing, the company cited a "faltering market for Internet-related IPOs" as the main reason for its IPO withdrawal.
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