Corsair Postpones IPO, Waits For Better Times

The timing of Corsair's announcement that current market conditions equity market conditions are too "weak" to justify an IPO may be just coincidence, but it is certainly interesting. Facebook's stock appears to have landed at $32 per share, more than 20 percent down from what mortal investors had to pay when the stock became available for trading last week. The hype surrounding Facebook's IPO and the subsequent crash on the floor of reality will have investors looking at upcoming IPO's with much greater scrutiny.

Corsair co-founder and CEO Andy Paul commented briefly on the decision to pull back and said that Corsair's "business is growing, and is generating increasing profitability and cash flow." He added: "We have decided that we will re-launch when equity market conditions are more favorable. While we do intend to expand our capital base through public capital markets, our existing capital structure and balance sheet provides sufficient capital to enable continued investment in our brand strength, products and people.”

Corsair did not indicate when it might consider to file for an IPO. The company was founded in 1994, employs 383 people and has annual revenues of about $326 million.

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  • burnley14
    Corsair only employs 383 people? Whoa.
    15
  • Other Comments
  • burnley14
    Corsair only employs 383 people? Whoa.
    15
  • Shin-san
    Quite smart. I wonder if the Facebook IPO brought down the entire tech sector
    5
  • aevm
    Everybody keeps saying that Facebook's IPO was a failure (botched, crash, etc.)... And yet, the insiders received $16 billion for about 16% of a company that is worth a lot less than $100 billion. As far as they are concerned, the IPO was a massive success.

    Corsair will probably file for an IPO after the US elections. because the stock market hates the uncertainty. I'll buy some stock that day, just because I've got a bunch of Corsair products and they all work :)
    6