FC: Zero Knowledge pulls the plug on its hoped-for IPO

[Declan McCullagh <declan () well com>]

Everyone in the privacy community I know was hoping that ZKS succeeded -- 
as I've written before, the world would have been a far better place if the 
company did. But with the demise of the Freedom product 
(http://www.politechbot.com/p-02620.html), what ZKS is doing today has 
become less interesting. And now, according to its official statement filed 
for the IPO, its burn rate is Can$2 million a month -- and ZKS only had 
Can$3 million in the bank as of two months ago. Given those dismal 
finances, it's hardly surprising that an IPO got shelved.

Previous Politech messages:

"Preliminary thoughts on Zero Knowledge's planned public offering"
http://www.politechbot.com/p-03619.html

"More on Zero Knowledge's planned public offering"
http://www.politechbot.com/p-03628.html

-Declan

---

http://www.forbes.com/newswire/2002/08/02/rtr684925.html

Internet security firm pulls planned IPO
Reuters, 08.02.02, 8:52 AM ET

MONTREAL, August 2 (Reuters) - Zero-Knowledge Systems Inc. pulled the plug
on Friday on a planned initial public offering, saying it will instead use
a recently completed private financing to fund growth for its Internet
security software business.

Privately held Zero-Knowledge, a high-flyer during the technology boom that
attracted heavy media and industry attention, did not disclose the value of
the financing.

[...]




-------------------------------------------------------------------------
POLITECH -- Declan McCullagh's politics and technology mailing list
You may redistribute this message freely if you include this notice.
To subscribe to Politech: http://www.politechbot.com/info/subscribe.html
This message is archived at http://www.politechbot.com/
Declan McCullagh's photographs are at http://www.mccullagh.org/
-------------------------------------------------------------------------
Like Politech? Make a donation here: http://www.politechbot.com/donate/
-------------------------------------------------------------------------