IPO 2.0 update
chamath.substack.com · 284 words · saved by 1 readers
Winding down IPOD and IPOF
Today, we started the process of winding down IPOD and IPOF. This means that the funds raised by IPOD and IPOF will be returned to their respective shareholders. Over the past two years, we evaluated more than 100 targets and while we came close to doing a deal several times, we ultimately walked away each time for a couple of reasons: Valuation. A combination of factors made it very difficult to find a company at a reasonable valuation and margin of safety. Ultimately, to get a deal done would have required us stretching on price or buying an inferior asset – neither were things we felt…
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