Reply, a platform for the buying and selling of clicks backed by the corporate venturing unit of leasing business Atel, withdrew its initial public offering in February.
On February 1, Reply said: "The Company has elected not to proceed with the offering contemplated by the Registration Statement due to adverse market conditions."
Reply’s largest shareholder is executive chairman Payan Zamani (42.74%). The largest external investors are venture firms Scale Venture Partners (20.7%), Outlook Ventures (5.8%).
Reply is also backed by VC firms Saints Ventures, Hercules Technology Growth Capital and Atel Ventures, having raised $32.9m, according to news provider Thomson Reuters in May 2011.
It bought business network MerchantCircle, backed by Disney’s corporate venturing unit Steamboat Ventures, for $60m in cash and shares last year.