Ipos

Reports of the “eclipse of the public corporation” underestimate its institutional staying power and unique capacity for renewal. In his recent HBR article, Michael C. Jensen, a distinguished scholar of corporate finance and governance, argues for a revolution in the structure of ownership and control in the U.S. economy.1 I share many of his criticisms […]

Six years ago, Google's IPO was the most hotly anticipated public offering of the year. But in classic Google style, the offering was neither typical...

I am not pessimistic about Facebook’s future. I have used the social network for eight years and continue to be impressed with Mark Zuckerberg’s focus on product and his vision for the internet. When I logged into the site for the first time in the spring of 2004, I was prepared to hate the service. […]

Initial public offerings are expensive, and many owners turn to M&A instead. But a little-understood mechanism known as a tax receivable agreement can...

Dietzen and his team weighed the risks and advantages of going public.

The value is in platforms, not products.

Why are some networks so much more profitable than others?

The market for IPOs is still open, and Titrolyte’s new titanium extraction technology has blockbuster potential. Will a public offering yield fool’s gold for the founders—or the real thing?

It's been only four years since First Rangeway Consulting went public, but to CEO Kenneth Charles, it seems like a lifetime. In the grand old days of...

Four years ago, Diane Ashton and Sundeep Lal were working together at MIT on a titanium extraction project. Durable and highly heat resistant, titanium...

It's been only four years since First Rangeway Consulting went public, but to CEO Kenneth Charles, it seems like a lifetime. In the grand old days of...

The market cares about a company's leaders, not just its metrics.

Four years ago, Diane Ashton and Sundeep Lal were working together at MIT on a titanium extraction project. Durable and highly heat resistant, titanium...

Limited oversight, tons of money, and hype for days. What could go wrong?

Start-ups seem to be getting bigger faster than ever--Uber is just one example of today's "unicorns," or private, venture-backed companies valued at a...

In his classic 1989 HBR article “Eclipse of the Public Corporation,” Michael Jensen analyzed early leveraged buyouts and identified a new form of corporate organization, the LBO association. He believed it would outperform the traditional public company thanks to “pay-for-performance compensation systems, substantial equity ownership by managers and directors, and contracts with owners and creditors […]

In case you hadn't noticed, Facebook really doesn't want to go public. At least, not yet. The seven-year-old company is now valued at $50 billion, significantly...

You might be surprised at what your acquirer will agree to - if you just ask.

The kind of company it is influences investors and its valuation.

New organizations are emerging in its place—organizations that are corporate in form but have no public shareholders and are not listed or traded on organized exchanges. These organizations use public and private debt, rather than public equity, as their major source of capital. Their primary owners are not households but large institutions and entrepreneurs that […]