The market for initial public offerings remains badly broken in the aftermath of the financial panic of 2008, but its malaise began even earlier."The ecosystem that allowed young companies to go public has been destroyed," said venture investor Robert Ackerman Jr., founder of Allegis Capital in Menlo Park.
His views echo a report co-authored by David Weild of the GrantThornton accounting firm, which traces the IPO slump to market and regulatory developments over the past decade.
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