New York City based Phase2Media pulls IPO

Phase2Media, which sells Internet advertising space on 60 branded Web sites, pulled its IPO Monday due to current conditions in the equity markets. Comparable companies, such as L90 (LNTY), DoubleClick (DCLK), 24/7 Media (TFSM) and Engage (ENGA) have been underperforming the Nasdaq since April 2000. Robertson Stephens was expected to take this company public.