& cplSiteName &

Anda Networks Withdraws IPO Filing

Light Reading
News Analysis
Light Reading
12/26/2000

Anda Networks today decided that continuing with its current IPO plans would be like parachuting into a live volcano.

The San Jose-based equipment maker just quietly withdrew its $100 million initial public offering because of unfavorable market conditions, according to a filing with the Securities and Exchange Commission. The company, co-founded by Wu-Fu Chen, its current chairman, originally filed to go public in August (see Wu-Fu Chen ).

Anda makes multiservice access platforms for telecom service providers. Its product consists of a chassis, service and interface cards, and software that lets service providers deliver voice and data over a single access network. The company says its product reduces service providers' investment in legacy equipment by allowing four subscribers to share each port on an existing Class 5 switch.

Anda has raised at least $96 million in venture funding to date (see Anda Completes $70M Round). Last year it lost $12.1 million, and during the first six months of 2000 it lost $27.1 million.

-- Phil Harvey, senior editor, Light Reading http://www.lightreading.com

(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Featured Video
Upcoming Live Events
October 22, 2019, Los Angeles, CA
November 5, 2019, London, England
November 7, 2019, London, UK
November 14, 2019, Maritim Hotel, Berlin
December 3-5, 2019, Vienna, Austria
December 3, 2019, New York, New York
March 16-18, 2020, Embassy Suites, Denver, Colorado
May 18-20, 2020, Irving Convention Center, Dallas, TX
All Upcoming Live Events
Partner Perspectives - content from our sponsors
Multiband Microwave Provides High Capacity & High Reliability for 5G Transport
By Don Frey, Principal Analyst, Transport & Routing, Ovum
5G + Cloud + AI + Ecosystem, Opening New World of Video
By Samuel Chen, President, Cloud & Data Center Marketing, Huawei
All Partner Perspectives