WiFi equipment maker Ruckus Wireless is holding off on an initial public offering until at least 2011, a sign that the economy still has yet to improve enough to make private companies comfortable with going public.
CEO Selina Lo told BusinessWeek that rather than pursuing an IPO, Ruckus will launch new products to help operators integrate WiFi into 3G networks as a data offloading tool. The company, backed by Sequoia Capital, expects to reach operating profitability this year and expand its sales force. Ruckus anticipates revenue to reach between $90 million and $100 million this year, up from $60 million in 2009.
Last week, the company indicated it was aiming to go public in the first half of 2011. Ruckus was talking to several investment bankers.
For more:
- see this BusinessWeek article
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