Great post by Ashley Mayer (disclosure: a friend), who ran communications at Box at the time of their IPO. Timely given Snap's IPO yesterday... Of note:
I remember when longtime Box board member Josh Stein gently warned me that at some point, the positive narrative simply wouldn’t be interesting anymore. That we should prepare for some sort of backlash as soon as folks had the ammunition. Smart guy! (This guy is smart, too.)
Without question, Snap was able to pull off a successful IPO, even with the narrative turbulence leading up to it. But this also applies to the all-important time post-IPO leading up to the point where the first lock-ups expire (when investors/insiders can sell).
News cycles, even the biggest ones, come and go, but the trust that a company builds with its employees is sacred and needs to endure.
And a great example of this is Box itself, which was able to get cash flow positive recently. The IPO isn't the end of the story, it's the beginning of a new one...Read more...