a16z Podcast The What, Who, and When with IPOs
19 snips
Jan 29, 2024 
Jeff Jordan, former CEO of OpenTable, and J.D. Moriarty, ex-Managing Director at Bank of America Merrill Lynch, share their insights on the current state of IPOs. They dive into the complexities of pricing and allocations while reflecting on OpenTable's IPO during a financial crisis. The duo discusses whether it's possible to time an IPO effectively in uncertain market conditions. They also highlight the importance of building strong relationships with investors and the challenges of navigating the IPO landscape.
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Focus on Business Fundamentals
- Focus on building a good public business.
- Don't try to time the market, as it's a long process.
IPO Windows and Company Quality
- The best companies often open up previously closed IPO windows.
- Good companies wait for favorable investor sentiment, while mediocre companies rush in.
Early Banker Meetings
- OpenTable strategically met with bankers 1.5 years before their IPO.
- They prioritized the capital markets function due to its interaction with investors.