[senthilnayagam]

Hope it has nothing to do with the plaintext password storage revelation , which came last week

[muppetman]

Was it much of a story outside of tech circles? i.e. do you think the average investor would have heard about it?

It's an interesting theory anyway. I suspect as someone else has posted that it's related to the way the LinkedIn IPO went.

[r00fus]

Doubtful. It is more likely they don't feel they're ready to strategically invest the capital (going IPO is to gain capital for the company mainly).

[fletchowns]

Wasn't the plan for them to expand their business in China with the IPO?

[evandena]

Unless I'm missing something, the CS Rep giving him his password in clear text does not necessarily mean it was stored in clear text.

[jackowayed]

Newegg should not be able to determine what his password is. 2-way encryption is less bad than truly storing it in cleartext, but 1-way encryption is the only acceptable way to store a password unless there's some very compelling reason that you need to be able to decrypt it. (eg. I used 2-way encryption to store people's Twitter passwords before OAuth because I needed to be able to tell Twitter their passwords, so 1-way wouldn't work.)

[ori_b]

If you can get the cleartext of the password without any information outside of what lives on Newegg's servers, then the password is effectively stored in cleartext.