Spotify is doing something like that (direct listing makes the stock be subject to the usual auction-like mechanism of the stock market from the moment it goes

Spotify is doing something like that (direct listing makes the stock be subject to the usual auction-like mechanism of the stock market from the moment it goes public). Here's a great article about it: Spotify's Non-IPO Really Is Novel - https://www.bloomberg.com/view/articles/2018-01-04/spotify-s-non-ipo-really-is-novel https://www.bloomberg.com/view/articles/2018-01-04/spotify-s... > Spotify AB has filed confidentially with the Securities and Exchange Commission to go public via a direct listing, in which it won't sell shares in an initial public offering but will instead just one day declare that it is public and let anyone who wants to trade its shares. The article also explains why Google's case was more akin to a traditional IPO than Spotify's.