Venture capitalists are encouraging startups to favor direct listings over traditional floats. But while the flawed IPO process is a problem, flawed companies with high expectations are a bigger one, writes richardbeales1.
Venture capitalists have invited more than 100 startups to a meeting on Oct. 1 where they hope to convince them to go public through direct stock exchange listings rather than traditional initial public offerings.
Two dozen venture capital firms are sponsoring the meeting in San Francisco, and the invited companies are likely to go public in the next year, said Benchmark Capital partner Bill Gurley, one of the organizers, according to Reuters.
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