Quote.com decides to go it alone
After talks with several potential suitors, the financial-data service decides to remain independent.
Robert Honeycutt, formerly chief operating officer at investment and trading services firm Barra, will run Quote.com, which provides live stock quotes and other financial data.
Since August, the company has discussed possible sales or other business relationships with cable TV network CNBC; personal-finance software firm Intuit, which is beefing up its popular Quicken.com Web site; and others
The company had been looking to raise money either by putting itself up for sale or through a round of financing.
The company issued a statement today declaring that it has decided to remain independent following "extensive discussions with several potential business partners."
Honeycutt will replace founder and former CEO Chris Cooper, who will remain on Quote.com's board of directors and continue to help develop the Quote.com's products and technology.
"Robert brings with him not only a keen understanding of Quote.com's business and the rapidly evolving online financial services space, but also a new vitality and direction that will take Quote.com to the next level," Cooper said in a statement.
The hiring of Honeycutt also raises the possibility that Quote.com might try to go public.