Tuesday, June 3, 2008

CreditCards.com Pulls IPO

Austin, Texas-based CreditCards.com said in a filing with the SEC Monday that it has pulled its IPO. CreditCards.com said in a letter filed with the SEC that it has decided not to proceed with its public offering, citing current public market conditions. The firm had said in November that it was delaying its IPO, after failing to attract sufficient interest for its IPO; the company had originally filed for an IPO in August of last year. The IPO had been underwritten by Credit Suisse, Citi, Thomas Weisel Partners, Jeffries & Company, and BMO Capital Markets. CreditCards.com is venture backed by Austin Ventures and American Capital.