The Great Venture Liquidity Illusion: Why an IPO Must Be Worth 3x an M&A Offer
Executive Overview For decades, the Initial Public Offering (IPO) has been heralded as the holy grail of startup growth—the ultimate Plan A for founders, early investors, and employees whose equity has long been locked away in illiquid cap tables. Conventional wisdom dictates that once a company rings the opening bell on a major exchange, the…
