B2B software provider Webridge withdraws $50mm IPO

Webridge, a provider of web-based software for B2B commerce and collaboration, withdrew its proposed $50 million IPO Thursday. The company had planned to offer 5.5 million shares at a range of $8 to $10 but withdrew the offering due to poor market conditions. Robertson Stephens, USB Piper Jaffray and Banc of America were the underwriters for this deal.