The NFX Podcast

We believe creating something of true significance starts with seeing things others do not. NFX is a venture firm exclusively focused on pre-seed & seed stage startups.

The IPO Whisperer Lise Buyer Talks Going Public

E110 • May 11, 2021 • 53 mins

In this episode, Pete Flint and guest Lise Buyer discuss the shift from private to public investments, the rise of mega rounds, and the appeal and risks of SPACs. They explore the impact of the Robin Hood generation on IPOs, the importance of transparency for public listings, and share Google's IPO story.

Key Points

Creating a successful IPO requires careful consideration of the company's ability to forecast earnings, close quarters efficiently, and maintain the right internal structures and personnel for operating in the public domain.
Different IPO methods, including traditional IPOs, direct listings, SPACs, and hybrid auctions, offer unique advantages and challenges, allowing companies to choose the best fit based on their specific goals, readiness, and investor base.
The current influx of SPACs presents a seller's market for companies considering going public, but founders should be cautious about valuation promises and ensure that SPAC sponsors will provide the necessary support post-IPO.

Lise Buyer, known as the IPO whisperer Pete Flint on the NFX Podcast to discuss all things taking a company public via traditional IPOs, Direct Listings, and SPACs.

Lise consulted on Trulia’s IPO in back in 2012 when Pete was CEO and Co-Founder. Previously, Ms Buyer was the Director of Business Optimization for Google Inc. where she was one of the chief architects of the company’s innovative IPO.

Lise shares her expert thoughts on:
- What has changed in public markets
- Why some companies should stay private
- When to make the decision of going public as a company leader
- What stays the same in a company after going public
- Building the infrastructure to go public
- & the differences between traditional IPO vs. Direct Listing vs. SPACs

Read the full NFX Essay here - https://www.nfx.com/post/new-world-of-going-public/

Speakers

Lise Buyer

Guest • 80%

Pete Flint

Host • 18%

Chapters

0:00	Introduction and guest Lise Buyer's insights on public markets
7:36	Shift from private to public investments and rise of mega rounds
12:42	The Fundraising Experience and Investor Engagement in different public offerings
19:10	SPACs: Appeal, suitability, and potential risks
30:15	Sponsor: NFX social channels and website promotion
30:33	Future of public offerings and advice for startup founders
36:12	Impact of Robin Hood generation on IPOs and stock price psychology
41:48	Preparing for public listing: Transparency, disclosures, and building the right metrics
45:11	Google's IPO story: Innovations, challenges, and aftermath
51:35	Lise Buyer's career in IPOs and closing remarks

Transcript

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