Zynga IPO Goes SplatVille. What Happened?
forbes.com
forbes.com
Investors just raised another $1 billion for Zynga. That's what happened. I don't understand the point of this article. The author is trying to make Zynga's IPO sound like a failure, when it is not.
"First-day pops in initial public offerings are almost axiomatic today. After all, IPOs are engineered that way"
Whoops. Not this time.
The way a typical IPO goes is asshole ibankers underprice the ipo then hand out blocks of shares to their preferred clients who pocket the pop. Every bit of price increase is money that should have gone into the pockets of the company and their investors. If you think this is an accident -- that they somehow make over and over again -- you're a sucker. Forgive me if I ignore a bunch of thieves whining about losing their free millions they feel entitled to. See eg Peter Thiel [1].
[1] http://www.businessinsider.com/peter-thiel-wall-street-screw...