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"If you thought the Classmates.com IPO was your opportunity to ride the social networking boom to riches (you're not only an idiot, but ...), you're going to have to wait for another day.  Parent company 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.\"\nAs we reported a few weeks ago, Classmates.com was already in some hot water, with the FTC looking into the company's practice of auto-renewing paid subscribers without their explicit consent.  There's also the fact that Classmates.com has a very outdated business model (paid subscriptions) versus the social networking leaders of today.  \nTesting 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.\n\n"^^<http://www.w3.org/2001/XMLSchema#string>
<http://mashable.com/2007/12/12/classmates-ipo-withdrawn/>