You will be redirected back to your article in seconds

Webcaster Yes says no to slump, cuts valuation

Stock fluctuations cause 'Net startup to rethink IPO

LONDON — After market tremors among high-tech stocks, video-on-demand Webcaster Yes will slash its valuation by around 25% to £460 million ($690 million) as it goes public in London in late May.

The price, to be confirmed this week, will seek to avoid an overvaluation and the kind of post-flotation slump that has recently hit stocks such as LastMinute.com, an e-tailer and ticket broker.

Stock concerns

Yes TV, a startup that aims to offer a range of digital services over the Web, was due to float in April, but called off the public offering because of market turbulence.

Part-owned by Warner Bros. and Disney, Yes TV will now seek to reap around $220 million from the issue, rather than a planned $290 million.

Company is testing VOD via British Telecom lines in parts of London and aims to roll out a national service with BT in the fall.

More Digital

  • cheddar logo

    Hulu Will Plug Cheddar's Flagship Financial Channel Into Lineup

    LONDON — After market tremors among high-tech stocks, video-on-demand Webcaster Yes will slash its valuation by around 25% to £460 million ($690 million) as it goes public in London in late May. The price, to be confirmed this week, will seek to avoid an overvaluation and the kind of post-flotation slump that has recently hit […]

  • jen wong

    Time Inc.'s Former President of Digital Jen Wong Joins Reddit as COO

    LONDON — After market tremors among high-tech stocks, video-on-demand Webcaster Yes will slash its valuation by around 25% to £460 million ($690 million) as it goes public in London in late May. The price, to be confirmed this week, will seek to avoid an overvaluation and the kind of post-flotation slump that has recently hit […]

  • Facebook Logo

    Oculus and Facebook Tweak Privacy Tools Ahead of GDPR Deadline

    LONDON — After market tremors among high-tech stocks, video-on-demand Webcaster Yes will slash its valuation by around 25% to £460 million ($690 million) as it goes public in London in late May. The price, to be confirmed this week, will seek to avoid an overvaluation and the kind of post-flotation slump that has recently hit […]

  • Beth MatthewsASCAP Pop Awards, Show, Los

    ASCAP Distributes $1 Billion to Members for the First Time

    LONDON — After market tremors among high-tech stocks, video-on-demand Webcaster Yes will slash its valuation by around 25% to £460 million ($690 million) as it goes public in London in late May. The price, to be confirmed this week, will seek to avoid an overvaluation and the kind of post-flotation slump that has recently hit […]

  • Sloane Stephens of the USA in

    Amazon Nabs U.S. Open Tennis Broadcast Rights for U.K., Ireland in Five-Year Deal

    LONDON — After market tremors among high-tech stocks, video-on-demand Webcaster Yes will slash its valuation by around 25% to £460 million ($690 million) as it goes public in London in late May. The price, to be confirmed this week, will seek to avoid an overvaluation and the kind of post-flotation slump that has recently hit […]

  • Mariale Marrero - CAA

    Bilingual YouTube Star Mariale Marrero Signs With CAA

    LONDON — After market tremors among high-tech stocks, video-on-demand Webcaster Yes will slash its valuation by around 25% to £460 million ($690 million) as it goes public in London in late May. The price, to be confirmed this week, will seek to avoid an overvaluation and the kind of post-flotation slump that has recently hit […]

  • moviepass card

    MoviePass Parent's Shares Crushed After Disclosing Pricing of Stock Sale

    LONDON — After market tremors among high-tech stocks, video-on-demand Webcaster Yes will slash its valuation by around 25% to £460 million ($690 million) as it goes public in London in late May. The price, to be confirmed this week, will seek to avoid an overvaluation and the kind of post-flotation slump that has recently hit […]

More From Our Brands

Access exclusive content