JD Moriarty, former Head of ECM at Bank of America Merrill Lynch, discusses corporate governance and distraction risks during the IPO preparation process.
“And in fact, one of the mistakes that we see companies make periodically is, is one, building employee expectations towards an IPO too early, and two, involving too many people.”
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More from JD Moriarty
Insight
Moriarty: Time IPOs based on business readiness, not market conditions
“Time the IPO for your business and your team, including your board and investors. Don't time it around the market, time it around at the right time for your business.”
JD MoriartyJan 2, 2019▶ 25:34a16z Podcast | The Curious Case of the OpenTable IPO
Insight
Moriarty: Three executives is the maximum team size for IPO roadshows
“We often ran into management teams that wanted to have too many people on the road. Three people sort of the outer number”
JD MoriartyJan 2, 2019▶ 19:21a16z Podcast | The Curious Case of the OpenTable IPO
AssertionContradicted
Moriarty: Mead Johnson was the only 2009 US IPO before OpenTable
“And the only IPO prior to Open Table in 2009 was a company called Mead Johnson, so a very defensive company, the type of thing that should go out in 2009 in consumer products.”
JD MoriartyJan 2, 2019▶ 1:21a16z Podcast | The Curious Case of the OpenTable IPO
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