Avid Life Media Suspends IPO

We just talked about Avid Life Media's IPO (see Story) and it looks like the $60 million initial offering will be delayed on the advice of GMP Capital. The initial response to woo investors was met with a poor reception, even though Avid Life has solid financial records. Sources are also citing market conditions as another reason for the delay.

Avid Life Media is not alone in delaying their IPO. Another similar company, The FriendFinder Networks, did the same thing this week (see Story), and for similar reasons.

For more on the story, read Reuters.