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Was the Uber IPO a Success?: Term Sheet

8 days ago   |   By Fortune

IPO MESS There was so much kerfuffle around Uber's public market debut that it was hard to sort through the noise.
Vitalyi Katsenelson, the CEO of Investment Management Associates, wrote a column for Fortune explaining why the Uber IPO was not a failure, but rather, how the IPO market is not designed to actually benefit the shareholders of the IPO company.
From his article:
Where the stock trades at the opening has little to do with what the company is worth, and has everything to do with supply and demand (mutual fund and hedge fund interest in the stock). That's it. The underwriters' job...
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