Startup Exits: IPOs & Acquisitions

An exit is the point where private ownership converts into something liquid - either shares that trade publicly after an initial public offering, or cash and stock from an acquirer. It is also the moment every previous funding round gets marked to reality. A company that raised at a $10 billion valuation and is acquired for $4 billion has repriced its investors; one that lists above its last round has confirmed them.

Exits are where the private and public markets meet, which is why they are covered on both desks. The startup desk reports the deal, the price, and what it implies for comparable private companies; the newsroom covers what it does to the listed acquirer or the newly public stock. Coverage links the mechanisms - IPO, acquisition, merger - to the wiki entries that explain each one properly.