Dan Levitan, cofounder of Maveron, thinks even companies with dual class structures are governed better when they're public.
, said he sees the tide changing from five years ago when entrepreneurs were fully committed to staying private.as a way to escape domineering investors or conflicts on the board level, he said Monday at the Milken Institute Global Conference during a panel looking at the current wave of tech IPOs. A public governance model is the best way to do that, in his view.
"We're five years into this experiment of large firms like SoftBank and others taking outsized platforms and putting in hundreds of millions if not billions of dollars," Levitan said."What I've talked to some founders about is, do you want to be captive to one investor?"as a classic example of a"highly dysfunctional" private governance structure.
"The IPO, bizarrely, is an attractive thing to the management team because they're being pulled in different ways," Levitan said.Harvard researchers say that Lyft investors will likely come to regret giving the cofounders so much control with so little stock Axios editor Dan Primack, who moderated the panel, then asked whether Levitan thinks IPOs improve governance in the case of dual class public listings, which give founders and early board members high-vote stock and disproportionate decision-making powers compared to public investors.Kara Nortman, partner at UpFront Ventures, had her own take on mega late-stage investors to share during the panel:"I think that is the value of a longterm early stage investor.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Uber is 'totally different' to Lyft, major investor Saudi Arabia says ahead of IPOSaudi Arabia's sovereign wealth fund says Uber is 'totally different' to Lyft despite investor concerns over profitability.
Lire la suite »
Airbnb CEO says company will be ready for IPO later this year: CNBCAirbnb will be ready for an initial public offering later this year, the home-re...
Lire la suite »
The One Thing VCs Think Startups Need To SucceedFounders and investors can agree on one thing: the people on a startup's team can make or break its success. So while hiring new talent is important, investing resources in the talent you already have can be key to healthy growth.
Lire la suite »
The One Thing VCs Think Startups Need To SucceedFounders and investors can agree on one thing: the people on a startup's team can make or break its success. So while hiring new talent is important, investing resources in the talent you already have can be key to healthy growth.
Lire la suite »
WeWork Files Confidentially For IPO, Latest In Unicorn Startups To Test Public MarketsThe workplace startup that raised $10.5 billion from SoftBank joins a host of companies going public in 2019.
Lire la suite »
Investor group demands changes to Uber's board ahead of IPOInvestor group CtW called for the removal of John Thain from Uber's board and said the board's composition 'falls short of best practices.'
Lire la suite »
The We Company, formerly known as WeWork, files confidentially for IPOThe We Company, formerly known as WeWork, filed confidentially for an IPO, the company said in a press release on Monday.
Lire la suite »
Coworking company WeWork files for IPO - Reuters TVWeWork said on Monday it had filed for an initial public offering with U.S. regulators, the latest in a swarm of U.S. startups planning a stock market debut this year.
Lire la suite »
Vegan burger company Beyond Meat's IPO sizzles with $25 share priceVegan burger maker Beyond Meat Inc, which counts Microsoft founder Bill Gates an...
Lire la suite »