Still No Firm Date For Classmates IPO
Wednesday, October 24th, 2007After announcing its IPO in August, Classmates.com hasn’t produced much more information about its IPO. It’s still not clear when the company will be spun off United Online (though United Online will still own a controlling stake through its B shares).
The stock has received some attention during the past couple of months due to other social networking sites. It was rumored that Microsoft might be buying a 5% stake in Facebook that would value Facebook at $10 billion. This rocketed shares of UNTD since people assumed other social networking sites, like Classmates, would receive favorable valuations as well.
Time will only tell if the Classmates IPO will be the next Vonage or perhaps the next VMware. I’m betting on Vonage, which is why I’m still short UNTD.