A security flaw on the Web site leaves private information open to harvesting just before Valentine's Day, one of the busiest times of the year for the online florist.
The electronic card company and FTD.com announce an agreement to promote each other's products and services.
A Groupon deal offers half off $40 worth of flowers from FTD.com. Some users complain that on the special offer page, the flowers have been marked up, so that there is no real savings.
Online florist Ftd.com and Net shopping mall Shopnow.com priced their initial public offerings today at $8 and $12 per share, respectively. Shopnow also increased the number of shares it was offering from 7 million to 7.25 million. Both will begin trading tomorrow. Ftd.com postponed its IPO last month as the market for e-commerce stocks softened.
IOS Brands, the parent company of flower delivery service FTD, plans to bring its dot-com spinoff back in-house. Under the merger plan, FTD.com shareholders will receive 0.26 shares of IOS stock for each share of FTD.com's Class A common stock. After the merger, IOS plans to pay a dividend to former FTD.com Class A shareholders so that they will own the same number of shares in IOS that they previously owned in FTD.com. After the merger, which still has to be approved by FTD.com shareholders, IOS plans to change its name to FTD and to have its shares traded on the Nasdaq under the ticker symbol "FTDI." FTD.com's Class A shareholders own about 17 percent of the company's total shares. Under the merger agreement, they will own about 13 percent of FTD shares. FTD.com went public in September 1999. Unlike many other dot-coms, the company has been consistently profitable.
As if sprayed by a quick-grow potion, the stock values of FTD.com and 1-800-Flowers.com have grown more than fivefold.
Ftd.com is postpones its public offering, part of a growing number e-commerce and Internet companies delaying their IPOs because of market conditions.