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Even with tech stocks rallying this year after a brutal 2022, internet and software companies are steering clear of the IPO market.

Even with tech stocks rallying this year after a brutal 2022, internet and software companies are steering clear of the IPO market.

Hot tech companies and other start-ups will soon be permitted to raise money on the New York Stock Exchange without paying big underwriting fees to Wall Street banks, a move that threatens to upend how U.S. initial public offerings have been conducted for decades. The Securities and Exchange Commission announced Tuesday that it had approved an NYSE Group Inc. plan for what are called primary direct listings. The change marks a major departure from traditional IPOs, in which companies rely on investment banks to guide their share sales and stock is allocated to institutional investors the nig...

Silicon Valley Wins as SEC Allows New Direct Listing Bloomberg 12/23/2020 © Bloomberg U.S. flags fly in front of the New York Stock Exchange. (Bloomberg) -- Hot tech companies and other startups will soon be permitted to raise money on the New York Stock Exchange without paying big underwriting fees to Wall Street banks, a move that threatens to upend how U.S. initial public offerings have been conducted for decades. The Securities and Exchange Commission announced Tuesday that it had approved an NYSE Group Inc. plan for so-called primary direct listings. The change marks a major departu...

December 23, 2020 The IPO is fiendishly difficult to disrupt. But Unity Software’s deal in September shows that the process of going public is still being pulled into the future. When the company listed its shares this year, it made some modifications that could shift the balance of power between Wall Street and Silicon Valley. Some experts think Unity’s offering—a hybrid of an auction and a more traditional IPO—is a sign of things to come. A hybrid auction uses an auction process to gauge demand for the offering. Then the company itself, rather than the investment bank, uses the data...