Buy.com Not Going Public — Maybe The Bubble Isn't Fully Inflated Yet
from the wonders-never-cease dept
Last month we pointed to Buy.com’s IPO filing as yet another sign of a potential bubble. After all, this was a Bubble 1.0 era company with plenty of questions about it, that still wasn’t profitable, trying to go public (for the second time) in the Bubble 2.0 era. However, it would appear that we haven’t reached the truly bubblerific stage yet, because Buy.com has indefinitely postponed its IPO, citing (of course) current “stock market conditions” which is a really obvious euphemism for “our bankers couldn’t find anyone to buy our stock.” Considering the fact that major competitors like Amazon.com have seen their stock rise lately, the “market conditions” excuse seems particularly pathetic.