PlanetOut postpones IPO

By Jim Hu
Staff Writer, CNET News

PlanetOut, a Web site targeting the gay, lesbian, bisexual and transgender audience, said Wednesday that it will postpone its initial public offering until an undisclosed date. The company blamed the postponement on "adverse market conditions" for IPOs. PlanetOut runs Web media sites Gay.com and PlanetOut.com but derives most of its revenues from online personals subscriptions. The company earned its first profit last summer.

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