Deezer Postpones IPO
October 28, 2015 at 4:00 AM (PT)
DEEZER's proposed $343 million Initial Public Offering was postponed TUESDAY (10/27), with the PARIS-based streaming music provider citing "market conditions" in a brief statement announcing the postponement. DEEZER had planned the IPO for later this week.
Chairman DIDIER BENCH told the WALL STREET JOURNAL that the dip in NETFLIX shares after disappointing third quarter earnings played into the decision, saying that "it's better for us to wait a bit... we have money and we continue to grow." The IPO would have sold off 30% of the company's stock and would have priced the company at about $1 billion.