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/ -------------------------------------------------------------------------
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