Competing Auto IPOs
from the talk-about-copying-a-competitor dept
Autoweb went public today as Autobytel plans to go soon as well. While it’s generally regarded as better to go out first, this might have worked to Autobytel’s advantage. Being that the offerings are so close, Autobytel could watch investor reaction and then make the quick shift to a higher offering price. Seems like an interesting strategy. It makes sense to me as it now allows Autobytel to raise a ton more money. While moonshot IPOs look nice, they also mean that the company left a ton of money on the table. This gives Autobytel a chance to collect a bit more.
