Latest / The Startup Exit Podcast with Fexingo: IPOs, Acquisitions, and Founder Liquidity Events
Why Some Startups Choose a Direct Listing Over an IPO
In this episode of The Startup Exit Podcast, Lucas and Luna explore the direct listing as an alternative to a traditional IPO, using Spotify's 2018 direct listing as a case study. They break down how a direct listing works, why it appeals to well-known companies, and what founders should consider when weighing the trade-offs. The conversation touches on Morgan Stanley's role as financial advisor, the absence of an underwriter, the flexibility around lockup periods, and how market conditions in August 2026 might influence the decision. Luna questions whether the model works for…
The skinny
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