Petopia.com pulls plug on IPO

San Francisco-based online pet supply seller Petopia.com has canceled its IPO, according to documents filed with the Securities and Exchange Commission. The e-commerce company, whose assets were acquired in December by Petco Animal Supplies Inc., one of its major investors, had earlier planned to use proceeds from the IPO for debt repayment and corporate development. Founded in 1999, Petopia.com had filed with NASDAQ for a listing as „PTOP.‰ San Diego, Calif.-based Petco, with some 500 retail stores, has said it will continue to operate Petopia‚s web site as its online channel.