Wednesday, April 21, 2010

Self-publisher Lulu postpones $50 million IPO

Main Street readers interested in a share of the risks and rewards of the self-publishing explosion will have to wait a while longer. The Wall Street Journal and other sources reported last week that Lulu Ltd, a privately-held self-publishing company based in Raleigh, North Carolina, that maintains the popular website, has postponed its $50 million initial public offering (IPO). Financial losses, poor share pricing and a listing on the Toronto Stock Exchange were among the main reasons for the postponement. Lulu is the brainchild of Bob Young, co-founder of Red Hat Inc, the well-known open-source software company.

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