Summary
A boutique investment bank is looking to open to the crowd the often opaque process of taking companies public.
Description
First Line Capital has launched IPO Village, a site that allows regular investors to buy into initial public offerings at the kind of pre-open prices now reserved for investment banks' biggest clients and for institutional investors. The idea is to apply crowdfunding tools to IPOs.
"You're going out there, you're going into a village square…and you essentially scream to the village that you've got shares to sell," First Line founder Simon Erblich said. "That's what an IPO was meant to be."