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From the Bloomberg story, which sums it up: “The company did everything to secure the most cash for itself while leaving some money for the IPO buyers,” said J
by apaprocki 13y ago
From the Bloomberg story, which sums it up:
“The company did everything to secure the most cash for itself while leaving some money for the IPO buyers,” said Josef Schuster, the founder of IPOX Schuster LLC, a Chicago-based manager of about $1.9 billion. “You need a pop at the opening to leave a good taste with everyone. They did a pretty good job managing the whole situation.”
http://www.bloomberg.com/news/2013-11-07/twitter-raises-1-82-billion-pricier-value-than-facebook.html http://www.bloomberg.com/news/2013-11-07/twitter-raises-1-82...
- mikeash 13y agoI was pretty sure that the financial companies demanded massive bribes in exchange for orchestrating an IPO, but it's still amazing to see it admitted in such a blatant fashion.