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Classmates IPO Held Back

Stock quotes in this article: UNTD , NWS , GOOG  

In yet another blow to the social networking sector, United Online (UNTD Quote) says the IPO of its Classmates Media unit will be held back this year.

United Online, formerly known as NetZero, says that the public offering of Classmates stock would not be in the best interests of its stockholders "under current market conditions."

Classmates is probably best known for its online banner ads featuring school photos. The company offers a paid membership service allowing people to locate former schoolmates. ...

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