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Short Take: Auto-By-Tel postpones IPO

Online commerce company Auto-By-Tel has postponed its plans to launch an initial public stock offering, attributing the decision to unfavorable market conditions. The company said its private placements, which have raised $24 million, will let the company delay its IPO until the market is warmer to Internet offerings.

Online commerce company Auto-By-Tel has postponed its plans to launch an initial public stock offering, attributing the decision to unfavorable market conditions. The company said its private placements, which have raised $24 million, will let the company delay its IPO until the market is warmer to Internet offerings.