Two of the print procurement dotcom firms have pulled out of plans to float on the stock exchange following the high profile plummet of high tech stocks.

Noosh was the first to pull out of a planned float on Nasdaq under the symbol NOSH last week. The firm, which was due to offer four million shares in a bid to raise around 35m, issued a statement which read: "Noosh believes that the terms obtainable in the marketplace at this time are not sufficiently attractive to warrant proceeding with the sale of the shares". As PrintWeek went to press the firm was unavailable for further comment.


It was closely followed by Impresse, which had planned to raise around 25m by selling 3.5m shares. It was planning to float on Nasdaq under the symbol IMPC.


"The goal of our IPO was primarily to raise visibility of our company," said Impresse vice president corporate communications Abbe Patterson. Commenting on the firms current finances and the need to float to raise additional cash she said: "We have raised 57m to date. Additionally, in Q1 we exceeded the expectations our analysts set. Based on our strong customer base, we are looking forward to an even stronger Q2."