Thursday, August 2, 2012

Report: LegalZoom IPO Delayed

The long awaited IPO of Glendale-based LegalZoom apparently has been delayed, according to reports Thursday afternoon. According to Reuters, citing an "underwriting source", LegalZoom has delayed the offering due to marketing conditions. LegalZoom had been aiming to list on the New York Stock Exchange as LGZ. The delay comes on the same day that another, Southern California company -- Genomatica -- abandoned its own IPO plans, and its own hopes to raise $100M on the market. It's unclear how long of a delay will be involved in LegalZoom's case; generally, companies delay their IPO depending on the kind of reception they get from investors on their IPO roadshow, or depending on the particular mood of the public markets. LegalZoom had been expected to price this evening and start trading Friday.