IPO Market Still Strong For Companies Without Businesses
from the don't-worry-about-the-lack-of-a-business-model dept
There's been a lot of talk about the state of the IPO market, and how it hasn't been as generous during this boom as it was during the last one. The few high-profile IPO attempts have received a pretty chilly reception, as Vonage has been a disaster, while Clearwire abandoned its own attempts, as it likely would have faced a similar fate. But while investors have shied away from these companies, it seems they have plenty of appetite for speculation. In March, Steve Wozniak raised funds for a blank-check IPO, meaning the company would raise money first, and then figure out what kind of business to enter. Since then, several companies have tapped the public markets in such a manner, raising money for a business to be determined later. The latest is one focused on media and telecom that claims former CIA director George Tenet on its board. So it's true that the markets aren't interested in big, money-losing operations, but it'll throw money at a black box with no real business. It sounds just like the last bubble.Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
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People should look more at management when picking companies to invest in. Even the best technology or product can be screwed up by bad management.
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Anonymous Coward
..Yea that must be the best management ever. Anonymous Coward are you a manager? I don't see what Management has to do with an IPO offering.
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Re: Anonymous Coward
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