Question: What can CEOs who contemplate going public in the future do during the startup phase to prepare for an eventual IPO?
Answer: An IPO may be “the closest business geeks get to winning the Super Bowl,” says Jeff Tangney. The medical app startup he cofounded from his Stanford University dorm room in 1999, Epocrates, went public in 2010.
Tangney, who is now the chief executive officer of Doximity, a company he describes as a “LinkedIn for physicians,” has some advice for entrepreneurs hoping to strike it rich through an IPO: The “bankers and lawyers are the only ones who get rich on the day your company goes public.” In 2012, Epocrates was acquired by another public company, Athenahealth, for about half of what it was valued at immediately post-IPO, he says. Read more…
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