Re:WeWork’s Adam Neumann Steps Down as CEO
by rainyMammoth on Tuesday September 24, 2019 @03:04PM
(#21063498)
usually it doesn't apply to the "Big" VCs and founders. So they are quietly able to get out before the stock crashes a couple months later.
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Re:WeWork’s Adam Neumann Steps Down as CEO
by jwc1 on Tuesday September 24, 2019 @07:51PM
(#21066025)
Could you share some examples of that occurring? To my knowledge, a lockup period is almost always a standard requirement from the underwriter (on any larger IPO), and in some states is even required as part of their Blue Sky Laws.
If a founder/VC wants to get out before the IPO, they usually just do so on the secondary market. Example: Benchmark cashing out a portion of their Uber stake to SoftBank pre-IPO.