On the other side of the listing: who is behind the IPO Square, GoPro, GoDaddy and other companies

    Megamind wrote that Square , a payment device manufacturer, had applied for an initial public offering on the New York Stock Exchange under the symbol “SQ.”

    Square offers a platform for accepting bank cards on mobile devices. Payment terminals suitable for smartphones on iOS and Android are used by street food merchants, taxi drivers and coffee shop owners. The company took advantage of the US law on support for startups - according to this law, a company with an annual income of up to $ 1 billion may not disclose details of its work to the IPO.

    The company listing mentions such well-known names as Goldman Sachs , Morgan Stanley and JPMorgan .

    However, the name of another company appears there. Loyal3 Securities is a small company located in San Francisco. On the one hand, it helps individuals to become owners of the shares of a brand that they like. Loyal3, on the other hand, helps sell its shares to companies that go public IPO or are looking for third-party funds. This company differs from banks in that the latter sell large shares, and Loyal3 “feeds” shares to customers in small portions.

    In four days, the company helped raise $ 58 million of GoPro . In two days, Loyal3 raised $ 14.5 million for Virgin America . Loyal3 worked on the IPO of AMC Entertainmentselling shares to members of the cinema network loyalty program. Loyal3 customers also include GoDaddy , HubSpot and Globant .

    In the case of Square, the firm will help customers of trading companies buy back part of the shares, Business Insider believes .

    Of course, the Loyal3 contribution cannot be compared to what Goldman Sachs does for Square. But the contribution of Loyal3 is still significant and so far no one can replace it.

    Goldman Sachs conducted an IPO on Twitter . Its CEO is Jack Dorsey, who holds the same position at Square.

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