Parent company of Classmates.com, United Online has pulled its S-1 registration statement (the filing required to go public), citing “current market conditions would not be in the best interests of its stockholders.
Classmates.com has already received some recent bad publicity with the FTC looking into the company’s practice of auto-renewing paid subscribers without their explicit consent.
Testing the waters for a Classmates.com IPO is going to cost United Online between $4.5-$5.5 million in their fourth quarter - mostly fees they paid to investment bankers in preparation for an IPO. United Online originally acquired Classmates.com for $100 million in 2004.
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