Direct Listings: A New Path for Going Public

Direct Listings: A New Path for Going Public

  • Case
  • Teaching Notes
Abstract

This case looks at the trend of companies going public via direct listing rather than with a traditional initial public offering (IPO). Direct listings were recently formally approved by the Securities and Exchange Commission, and major companies such as Spotify and Slack were frontrunners in opting for the new alternative. With several advantages for start-ups, including exemption from bank underwriting and the attendant fees inherent in IPOs, direct listing is a strategy likely to catch on in Silicon Valley.

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