LegalZoom Withdraws IPO

Online legal help company LegalZoom withdrew plans for an initial public offering (IPO) after a private investor stepped forward with a $200 million offer, the Wall Street Journal Law Blog reports. A company backed by European private equity firm Permira will now become the largest stakeholder in the company. LegalZoom chief executive John Suh said the cash infusion will allow the company “to continue to focus on the innovation of products and services.”