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Consulting network Gerson Lehrman Group withdraws $100 million IPO

March 25, 2022

Gerson Lehrman Group (GLG), an online insight network offering research and consulting services, withdrew its plans for an initial public offering on Friday. It originally filed in October 2021 with a proposed deal size of $100 million.

Gerson Lehrman Group states that it pioneered the Insight Network category, or businesses that connect companies with expert resources or subject-matter experts, such as academics, C-level, and other experienced executives to provide valuable information, data, or assistance through a range of offerings such as calls with an expert and surveys.

The New York, NY-based company was founded in 1998 and booked $628 million in revenue for the 12 months ended June 30, 2021. It had planned to list on the Nasdaq under the symbol GLGX. Morgan Stanley, Goldman Sachs, BofA Securities, Barclays, Jefferies, Baird, and William Blair were set to be the joint bookrunners on the deal.