Convio Pulls IPO

Austin-based Convio, a developer of software for the nonprofit sector, said Monday in a filing with the SEC that it is pulling its initial public offering. According to Convio, the firm is pulling the IPO because of "unfavorable market conditions." Convio was looking to raised up to $86.25M on the NASDAQ Global Market; the firm's IPO was being underwritten by Goldman, Sachs & Co., Thomas Weisel Partners, William Blair & Company, JMP Securities, and Pacific Crest Securities.