Stock exchanges NYSE and Nasdaq have brought out the perks to convince unicorn tech companies to choose them for the big IPOs of the year.
Looking to get an edge over Nasdaq for Pinterest's upcoming public listing, in February NYSE displayed a giant, red banner promoting its own Pinterest page,The banner was free advertising for Pinterest, and ultimately it worked to woo the site to its side. Pinterest, which was last valued over $12 billion in 2017, opted to list with NYSE in its upcoming IPO, rather than its competitor Nasdaq.
Nasdaq put up its own fight in the battle for Pinterest. The exchange reportedly reserved the ticker symbol"PINT" to get a leg up, but it didn't work. Instead, Pinterest will use the ticker"PINS" in its upcoming NYSE listing. The free marketing and specialized tickers are just some of the ways that NYSE and Nasdaq have used perks to compete amid the IPO spree of multi-billion dollar tech startups. Both exchanges have bent their own rules, from dress codes to listing locations, to please the companies they want to take public, according to the Journal.
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