In 1971, Intel went public with an initial offering of 350,000 shares at $25 per share. A group of 63 firms underwrote the modest $8 million offering.
The small scale of this IPO is impossible to imagine today
Alan Patricof, founder of Apax Partners and later Grecroft Partners, joined Business Insider’s deputy editor Joe Weisenthal at IGNITION to discuss the new IPO dynamics and their impact on small businesses and startups.
As he sees it: “The whole environment has just wiped out, so that it’s not profitable for Goldman Sachs to do a $25 million public offering or anybody else to do it.”
And he thinks this may be preventing or delaying many young startups from becoming profitable companies.
Watch the discussion below:
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