AutoTrader.com withdraws $300 million IPO

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AutoTrader Group, which operates the largest digital automotive marketplace, withdrew its plans for an initial public offering on Friday, citing poor market conditions. This is the company's second withdrawn IPO attempt, following filings in April 2000 and June 2012. It was the first internet company to file for an IPO after Facebook's botched offering in May.

The Atlanta, GA-based company was founded in 1997 and booked $1.1 billion in sales for the 12 months ended 6/30/2012. Goldman Sachs, Morgan Stanley and Allen & Company were set to be the lead bookrunners on the deal.



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This article appears in: News Headlines , IPOs

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