Wall street’s stronghold on IPO market is being questioned finally! I have been writing for years about how Wall street’s monopoly is not good for both the listing companies and investors. Looks like Wework’s IPO fiasco is waking up VC firms to consider alternatives.
“Powerful figures are gathering 2,500 miles from Wall Street to redesign one of its oldest and most lucrative businesses — but few from the industry will have a seat at the table. Attendees plan to discuss alternative strategies including direct listings, which replace financial underwriters with cutting-edge computer code.”
Read the Bloomberg article below.