News for hackers. Stuff that matters.
Re:Square jumps in market debut by pbreit on Thursday November 19, 2015 @12:35PM (#10596112)
Well, they are using a sort of auction structure, just not a pure one. The "pop" is by design to signal a successful offering. The criticism of "leaving money on the table" is bogus. You want to set yourself up for a secondary where you'll raise most of your money.
Re:Square jumps in market debut by mikeash on Thursday November 19, 2015 @12:50PM (#10596211)
That's an interesting way to look at it. How common are secondary offerings? I had the impression that they were pretty rare, but I can't think of where I got that idea.