Redfin CEO Glenn Kelman rings the Nasdaq opening bell with members of the team. (Nasdaq Photo)
Redfin had one of the better IPOs in 2017. In a process that has become more hit-or-miss in recent years, Redfin’s stock spiked right away on the first day of trading, and it has stayed well above its initial price for the last six months.
It didn’t always seem like things would work out that way as the tech-powered real estate brokerage prepared to go public. In a LinkedIn blog post, Redfin CEO Glenn Kelman pulled back the curtain on the process of talking investors into buying stock in a soon-to-be-public. Check out Kelman’s full diary for in-depth reflection of everything from transportation between meetings, to setting the right stock price, to how he hoped the stock would do out of the gate, and continue reading for highlights.
One thing that stood out was the emotional stress the process can put on company leaders. Kelman recounted in great detail the ups and downs of laying out the company to investors during 56 “roadshow” meeting in cities around the country over a few weeks prior to its July 2017 IPO.
Instead of being bathed in a golden …read more