Shoot The Messenger

It's a less-than-fetching picture. Online delivery service, still plying the New York City streets following the collapse of talks to merge with rival UrbanFetch, hopes to pull off a delayed $150 million IPO (UrbanFetch has since closed its consumer delivery service). What if Kozmo, which delivers mostly videos and food in 10 cities, didn't have the dot-com patina? Bad news: The valuations of two old-world peers in the messenger biz, Dynamex Inc. and CitySprint, are hardly encouraging. A comparison:

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