How does a private company go public? What is the process and requirements? Is there a set amount of profit that a company has to make before going public?
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Founders just say “hey, we want to sell some of our shares”. Why? Because they want the money. Imagine having a $10m painting in your living room. You would be a multimillionaire on paper, but you can’t do much with it.
I’m not too knowledgeable on the process and requirements, sorry. I just know they get way more scrutinized financially and they now have a legal obligation to please the shareholders.
They don’t even have to make a profit, look at Uber.
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