Investment banks are losing their grip on IPOs | Curio

Investment banks are losing their grip on IPOs

6 mins | Aug 19, 2019

Spotify, Slack and other tech companies are cutting out the middlemen. When Spotify launched its IPO in 2018, it opted to go for a direct listing by offering its shares directly to the public, leaving out the investment banks, who would traditionally have underwritten the offering. With a couple of more companies following suit thereafter, Michael Moritz writing in the Financial Times in August 2019, wonders whether investment banks are finally losing their grip on IPOs.

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From Financial Times