IPO is an acronym for initial public offering. In this case, public refers to individual investors, mutual funds, etc. that have the opportunity to purchase equ

IPO is an acronym for initial public offering. In this case, public refers to individual investors, mutual funds, etc. that have the opportunity to purchase equity in the company on stock exchanges like the NYSE. No government funds are invested (unless you count public pension investments like CalPERS) during an IPO. Actually, states like California stand to benefit from King's IPO by way of capital gains tax revenue.