Following up on yesterday's article about Wall Street, today's longread looks at the role of investment banks and financial institutions in the IPO process. In particular, it focuses on the Facebook IPO because it was destined to be a tremendous money-maker for whoever took the lead. I didn't realize how profitable an IPO was for an investment bank and how much effort is invested into business development in that field. While this article relies on a lot of insider sources and unnamed interviews, I still think it provides a valuable introduction to the battles for dominance in the technology IPO business.
"Oh My God -- We're In Bed With the Vampire Squid!" by Henry Blodget
Published in Business Insider, May 9, 2012
http://www.businessinsider.com/oh-my-god-were-in-bed-with-the-vampire-squid
Eric
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