I think this is a fantastic trend for capital markets. Hopefully as cost and complexity of these issuances comes down it will make the public markets somewhat more accessible as well.
was surprised to see no mention of iHeartMedia (maybe news was too recent) which has an imminent Nasdaq direct listing on July 18th. Should be an interesting twist after Slack and Spotify given the stark difference in business types and growth numbers.
This is a little different because it's really Clear Channel, a 47-year-old radio company.
I've always wondered what a minimum viable public company would look like. If the books were open enough, could your shares trade OTC on day one? They talk about onerous reporting requirements.
Somehow cutting out the middle man in this case has unexpected side effects. Article does not talk about the service and technical insurance an underwriter brings